Peloton 3x delisted

This had been delisted.

I don’t own it but can this just happen? I’m feeling nervous about by leveraged positions now…

Anyone can give me insight? Seems like all currency denominations have delisted too!

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Could not find much infos about it specifically, but looking at the page from LeverageShares itself (the company issuing the product), it lists a price of 0.00$, last refreshed on the 5th of November.

If you look at other products, they are always refreshed daily on their website.

I am guessing Peloton had a loss bigger than 33% on that day, hence the 3x product lost 100% of its value; and I think most stock exchange might freeze trading before delisting securities that reach 0.00.

EDIT: Indeed on the 5th of November, Peloton lost 35.3% from previous close, hence the 3x products lost 100% of their value.
Furthermore, most stock exchanges in the world would delist shares reaching 0.00

Leveraged products will always carry a risk of becoming worthless, regardless of their shape. As a rule of thumb, 2x leverage allow for a loss of 50%, while 3x only have room for a 33.3% loss.


Wow thanks for this.

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Hi @Zergui and @bmbm365 - yes, this is the case.

Simply put: The price of Peloton stock dropped over 33.34% on Friday (5 November), triggering an intraday rebalance of the index and bringing the 3x Peloton ETP Value to zero . Hence, all the currency denomination of the Peloton ETPs were removed (redeemed) from trading and shareholders of PTON ETPs will receive a minimum redemption amount of $0.10 per ETP share held.

Full explanation can be found here:
3x Peloton Redemption


Typo @Oktay? The prospectus mentions $0.01 per share redemption. Which is it? (My money is on the 1cent :joy:)

It’s a whopping $0.10! :smiley: Just checked with the head of product to confirm, we need to update the info on the LSE site…

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