taylor: that was bloomberg's jennifer rie. peleton has seen shares fly due -- has seen its shares slide due to one of wall street's active short-sellers. we will find out his reason. if you like bloomberg, check us out on the radio. you can listen on the bloomberg app, online, or sirius xm. ♪ taylor: shares of peleton taking another hit. this time, it is not due to a widely criticized commercial. it is thanks to one of wall street's most active short-sellers. andrew put out a note saying he sees clear flaws in the peleton business model, and predicts stock will fall nearly 85% next year to five dollars a share. i spoke to andrew left on the phone wednesday. >> people criticize that saying, why don't we look at cost per subscriber? that is difficult with how some of the software. if you see the chart i put out, it shows how much wall street is playing currently for every subscriber of peleton, compared to planet fitness and spotify. you can see the ev per subscriber is over $15,000 for peleton. match.com is $2100. taylor: we ar

taylor: that was bloomberg's jennifer rie.eloton has seen it shares a slide due to a wall street activist short seller. we find out his reasons next. and if you like bloomberg news, listen to us on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ taylor: shares of peloton taking another hit since tuesday. is not due to another widely criticized commercial, but thanks to one of wall street's most active short-sellers. seest out a note saying he quote clear flaws in the business model and predicts the stock will fall 85% next year. i spoke to andrew on the phone on wednesday. that,ple have criticized same one we look at numbers per subscriber. that's all. ,f you see the chart i put out it shows how much wall street is currently paying for every subscriber of peloton compared to planet fitness, and per subscriber, it's over $15,000 for peloton versus match.com, it's $2500. -- 2100. taylor: we are showing that chart there. you can see on a per value, per subscriber basis, it certainly does look

taylor: bloomberg's jennifer rie, thank you for joining us.ith more on the case and what is at stake for the industry, a law professor at nyu in new york. first, are you surprised this is going to trial? >> well, no, given the way the case is set up. in general, this is a very unusual case to go to trial by the state and not the federal government. taylor: i was reading one of your documents on this case and thewere writing about justice department's proposed final judgment why is that critical? harry: states will have to prove that this merger actually will or might lessen competition, particularly by reason price. the testimony referred to earlier is a critical aspect. the second is that the justice department, in a second filing, has agreed that this merger will raise prices by millions of dollars, but it has come up with a remedy. if the remedy is sufficient to reduce the competitive effect or make it not anticompetitive, that could be and presumably will be a strong defense by the parties. plaintiff states will certainly argue that even i

taylor: bloomberg's jennifer rie, thank you for joining us. coming up, an insider look at u.s.sus huawei. our conversation with the u.s. assistant equity -- assistant secretary of state is next. this is bloomberg. ♪ taylor: this is bloomberg technology global link, where we join bloomberg daybreak australia's ring of the latest and global tech news. i'm taylor riggs with shery ahn and haidi stroud-watts. let's take a look at the top global tech stories of the day. haidi: france says the european union will retaliate over the proposed u.s. response to its digital tax law. the tax hits large american tech company such as google, facebook, apple and amazon. the trump administration announced it may slap tariffs on $2.4 billion worth of french wine, cheese, handbags and other products. starting tuesday, amazon needs to check off a patchy record. the company's prime video service will begin showing the world's richest competition to millions of fans. amazon is carrying 20 english premier league matches this month. previous attempts have been mired by technical glitches. and a califo

. -- jennifer rie. for a look at the markets, joining us as abigail doolittle. abigial: not a lot of action. stops not doing too much. the theme you and i have been talking about is trade, trade, trade. stocks not doing much. interesting is the stocks holding up just a little bit, we were talking about that as a tail on the trade war. the fact that that is in the green suggests not all hope has been lost about the possibility of a phase one deal between the u.s. and china being reached soon. will it happen before sunday when the first phase of tariffs is supposedly going to go in? time will tell. we have just a couple of days into next week on that. next week could be interesting. bonds are also lower. not a risk off tone, even with stocks down. happens when the december 15 tariffs could drive it one way or the other? abigial: it could be one way or the other. david: what happens at the end of the year? the santa claus rally. decembers are typically strong if you put aside last december which was the worst since 1931. decembers are typically strong. speaking of

taylor: that was bloomberg's jennifer rie.oming up, peloton has seen it shares a slide due to a wall street activist short seller. we find out his reasons next. and if you like bloomberg news, listen to us on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ ♪ taylor: shares of peloton taking another hit since tuesday. is not due to another widely criticized commercial, but thanks to one of wall street's most active short-sellers. he put out a note saying he sees quote clear flaws in the business model and predicts the stock will fall 85% next year. i spoke to andrew on the phone on wednesday. >> people have criticized that, same one we look at numbers per subscriber. that's all. if you see the chart i put out, it shows how much wall street is currently paying for every subscriber of peloton compared to planet fitness, and per subscriber, it's over $15,000 for peloton versus match.com, it's 2100. taylor: we are showing that chart there. you can see on a per value, per subscriber basis, it cer