John Foley, co-founder and chief executive officer of Peloton Interactive Inc., center, stands for a photograph with fitness instructors during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 26, 2019. Peloton fell as much as 9.5% Thursday after raising $1.16 billion in its U.S. initial public offering, becoming the latest unprofitable startup to fail win over investors in its trading debut. Photographer: Michael Nagle/Bloomberg