Why Peloton Stock Dipped on Monday
Shares of Peloton (NASDAQ: PTON) took a tumble Monday morning, with the stock down as much as 6.75% on the day. There was no news associated with the price drop, so it looks like this is just continued fallout from the company's recent earnings report and capital raise. The stock is down 5.6% as of 11:13 a.m. ET.
Peloton released its first-quarter earnings on Nov. 4, covering the three months ending in September of this year. Churn was up in the quarter, from 0.73% to 0.82% (assessed on a monthly basis), and Peloton reduced its fiscal-year revenue guidance from $5.4 billion down to a range of $4.4 billion-$4.8 billion. It also reduced its guidance for connected-fitness subscriptions from 3.63 million down to a range of 3.35 million-3.45 million. Clearly, investors have not been happy with these updates, which is why the stock is down almost 50% in the last month.
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Source Fool.com
