Peloton's open was the third-worst since 2008, trailing only SmileDirectClub and ADT. Shares slumped more than 11% by market close.
The connected-fitness company sold 40 million shares for $29 each, raising nearly $1.2 billion in new funding through the IPO.
The shares closed down about 11% at the end of the trading day, slumping to $25.76 per share. for a mega-IPO since the financial crisis a decade ago, trailing only SmileDirectClub and ADT.
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