shares of peloton interactive inc tumbled to an alltime low in early trading tuesday after the maker of connected fitness equipment reported mounting losses and its first yearoveryear quarterly revenue decline since becoming a publicly traded company the new york company also said it was grappling with an oversupply of inventory that has consumed an enormous amount of cash and that it recently lined up 750 million in financing to shore up its balance sheet as its quarterend cash position of 879 million left it thinly capitalized for a business of our scale peloton posted revenue of 9643 million for its fiscal third quarter ended march 31 down 24 amid a 42 drop in product revenue the company also forecast fourthquarter revenue of 675 million to 700 million well below the roughly 820 million wall street was expecting peloton shares were changing hands at 1183 down about 16 after falling to 1153their lowest level since the company went public in september 2019early in the session the stock is now roughly 93 below its alltime high of 17109 reached last january the company once worth around 50 billion now sports a market capitalization of less than 4 billion