Peloton Interactive Inc (NASDAQ:PTON) is looking to turn things around after seeing its stock fall more than 75% over the last year.
The connected fitness company cut back production of some of its products as a result of waning consumer demand, trimmed 20% of its workforce and hired Barry McCarthy, who formerly held senior leadership positions at Netflix Inc (NASDAQ:NFLX) and Spotify Technology SA (NYSE:SPOT), as the company's new CEO.
McCarthy will be featured on "Mad Money" Wednesday night in what will be his first interview since taking over at Peloton.
"McCarthy is a brilliant exec," Jim Cramer said Wednesday on CNBC. "Those who are selling Peloton right now, maybe they should wait until the interview to make a decision."
See Also: New Peloton Lanebreak Similar To Video Game: Is It More Than Meets The Eye?
Goldman Sachs Group (NYSE:GS) CEO David Soloman will also be interviewed by Cramer. "Mad Money" is set to air Wednesday at 6 p.m. ET.
PTON Price Action: Peloton has traded as low as $22.81 and as high as $138.61 over a 52-week period.
The stock was down 2.15% at $27.94 at time of publication.
Photo: courtesy of Peloton.
