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  "documentTitle": "Peloton Interactive (PTON)",
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  "authorName": "Citron Research",
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      "text": "Foley's loose language makes us question the integrity of his guidance and key performance metrics, most notably churn.",
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      "text": "In 2018, Foley tells CNBC that Peloton is profitable; In 2017, Peloton SVP of brand marketing says Peloton is “effectively” profitable; In 2016, Foley tells Inc. that Peloton is profitable; In 2015, Foley tells Bloomberg that Peloton is profitable",
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      "text": "Foley’s loose language makes us question the integrity of his guidance and key performance metrics, most notably churn. As noted by Emory professor Dan McCarthy, Peloton’s churn disclosure just “doesn’t pass the smell test” as Peloton’s 0.65% churn rate implies that the average customer keeps the digital subscription for 13 years!",
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      "text": "Lastly, Foley’s willingness to play fast and loose with the rules have resulted in the company being the subject of a $300MN lawsuit from music publishers.",
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      "text": "While Peloton stock may move in the short-term on promotional commentary from management, the reality is that CEO John Foley has had a hard time with the truth.",
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      "text": "As noted by Emory professor Dan McCarthy, Peloton's churn disclosure just \"doesn't pass the smell test\" as Peloton's 0.65% churn rate implies that the average customer keeps the digital subscription for 13 years! Can we take the under? — Dan McCarthy",
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