On the other hand, Ocado shares dropped nearly 17%, contributing to a 3.6% decrease in the "Shopping" segment of the CE 100 Index, despite a rise in revenue and average weekly orders. Peloton shares also fell by 15.5%, leading to a 4.3% decrease in the "Be Well" pillar. This comes after reports of the company failing to make timely payments to vendors and a 6% decrease in total revenue for the quarter, despite a 3% rise in subscription revenue.
Key takeaways:
- The CE 100 Index experienced widespread losses, with Spotify shares gaining 17.6% following the appointment of a new CFO, Christian Luiga.
- Meta has adjusted its approach to handling AI-manipulated media, with platforms such as Facebook, Instagram, and Threads now labeling a wider range of content as 'Made with AI'.
- Ocado shares lost nearly 17%, despite a rise in revenue for the quarter that ended in March and an increase in average weekly orders by 8.4%.
- Peloton shares dropped by 15.5%, with the company facing financial distress and failing to make timely payments to vendors, despite a 3% rise in subscription revenue.