I'm Dear Jrabosa, and you're listening to CNBC's Tech Check.

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Good Friday morning. Welcome to Tech Check. I'm Carl Kingtonia with Dear Drobosa and Julia Borsden.

Today, Peloton plummeting, why that stock is down more than 30% today.

Then recalibrating the reopening trade, the CEO of Airbnb is straight ahead. Also this hour,

the CEOs of Dropbox, IAC, and Microchip on what is an incredibly busy day for earnings

and tech guys. But we'll start with Peloton getting crushed this morning, as you probably

know by now, wider than expected loss,akening sales growth, sending shares down 30%.

A bunch of analysts downgrades follow that. Revenue growth of just six, not what you're expecting

normally from a company in expansion mode, and then sales and marketing expenses more than doubled.

And add to that the company, the ever-growing list of supply chain challenges as a reason to lower guidance. Last time we saw a move

like this in the stock, November of last year, when shares fell more than 20% post-earnings.

Stock had already been cut in half since January going into that print. It is now the biggest

loser, D, on the NDX this year, a clear victim of what's been the reopening trade.

Yeah, how fortunes have changed as we look at Peloton, see a world of pain this morning.

You see Planet Fitness an all-time high as that reopening play really takes place in the markets,

Julia.

Certainly, I'm not one that's going back to a real jump, but then again, I'm someone who moved out of a major city to the suburbs. So I think that there are a lot of people who are going back, and we're seeing evidence of this, whether that's Peloton or Zoom or some of the other pandemic darlings that have seen this steep reversal. You know, sales and marketing costs, Carl mentioned this, they account for more than a third

of total revenue now, Julian. That's expected, that trajectory expected to increase through the

holiday season. Yeah, and that factor is going to continue to weigh on that company's balance sheet

along with the commodity costs. And of of course all of those interruptions to

shipping and if you think people might be interested in getting a peloton and then they look at the

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