Why Peloton Stock Dropped 10% Today
On a day that the stock market is up over 1% overall, we have seen shares of Peloton Interactive (NASDAQ: PTON) drop as much as 10%. Shares clawed back some of those losses in afternoon trading but are still down 6.2% as of 2:30 p.m. ET.
The market continues to try to figure out what to do with a potential U.S. recession, rising interest rates, and a shift away from pandemic stocks. Today's loudest voice was the Financial Times, which highlighted that Peloton actually has an inventory problem on its hands now that demand for bikes and treadmills has fallen.
Image source: Peloton.
Source Fool.com
