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  "notes": "Uses a before-after framing to expose management's lack of credibility.",
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      "text": "Peloton's stock declined to a new 17-month low on the news",
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      "text": "Just twelve days later, on November 16, 2021, Peloton announced a new $1.1 billion public stock offering",
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      "text": "On Peloton's first quarter 2022 earnings call on November 4, 2021, CFO Jill Woodworth reiterated that Peloton did not need any additional capital",
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      "text": "\"[Peloton] today announced the pricing of an underwritten public offering of 23,913,043 shares of its Class A common stock...\"",
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      "text": "\"...we don't see the need for any additional capital raise based on our current outlook.\"",
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      "text": "1. MarketWatch; 2. Q1 2022 Earnings Call; 3. Press Release Nov 16, 2021",
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      "text": "LOSS OF CREDIBILITY: MISLED INVESTORS ON NEAR-TERM CAPITAL NEEDS",
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