Here's Why I Sold Peloton Stock and Why I'm Not Buying Back Just Yet
Peloton (NASDAQ: PTON) first attracted my attention when I noticed that sales doubled yearly even before the pandemic's onset. Of course, the outbreak put fuel on the fire, and growth surged higher still. I bought the stock with the realization that sales might slow down in the aftermath of COVID-19.
What I didn't anticipate were several decisions by management that would harm the business's long-term prospects by burdening it with a higher cost structure. After I saw the outcome of those decisions on the business's financials, I sold my shares at a loss.
What follows is a closer look at why I bought shares in the first place and why I am not repurchasing even in the face of the dramatic crash of the stock price.
Source Fool.com
