Peloton Stock Is Down 98%, and It Just Lost a Huge Asset. Is a Recovery Still Possible?
PTONPeloton(PTON) The Motley Fool·2024-05-07 02:21

More cost cuts are on the way for Peloton Interactive as sales continue to slump. Peloton Interactive (PTON 6.86%) went public in 2019 at 29pershare.Thecompany′sat−homeexerciseequipment,fittedwithdigitalscreensandstreamingcapabilities,provedtobeincrediblypopularwhentheCOVID−19pandemicstruckin2020.Salessoaredaslockdownsandsocialrestrictionskickedin,andPelotonstockhitarecordhighof29 per share. The company's at-home exercise equipment, fitted with digital screens and streaming capabilities, proved to be incredibly popular when the COVID-19 pandemic struck in 2020. Sales soared as lockdowns and social restrictions kicked in, and Peloton stock hit a record high of 171 in early 2021. But its incredible growth story began to fall apart that same year ...