Digital fitness company Peloton Interactive Inc.'s shares slumped in the company's trading debut on Nasdaq.
The New York-based company's stock ended the trading session down 11.17% at $25.76 on Sept. 26, giving it a market capitalization of $6.08 billion. The Nasdaq Composite index finished the day down 0.58%.
Peloton on Sept. 25 priced its IPO of 40 million class A common shares at $29 per share, at the high end of the company's projected range of between $26 and $29 per share.
The stock, which trades under the symbol PTON, opened at $27.
Peloton is not the only company to see its shares enter the negative territory on debut this year. Shares of ride-hailing company Uber Technologies Inc. dropped 7.6% from their IPO price of $45, while SmileDirectClub Inc., which sells teeth aligners directly to consumers, saw its shares tank 27.5% from their IPO price of $23.