Why Is Everyone Talking About Peloton This Week?
For all of the talk it generates, it's hard to believe that Peloton Interactive (NASDAQ: PTON) has only been on the stock market for just over two years. It's had massive ups and downs in that time frame, and it's currently down 76% from its all-time high of $162 exactly a year ago. The company's been making headlines for the past two weeks, but it's not moving the stock all that much. That's because not all news is good news.
Peloton burst onto the scene right before the pandemic closed down gyms across the globe and kept fitness enthusiasts tied to their home fitness options. Without the ability to even take a jog around the block in many cases, people flocked to Peloton's connected fitness equipment. What takes it up a notch above the simple stationary bike, for example, is the connected fitness aspect. Peloton's platform offers a premium library of classes with fitness instructors, including live classes, connecting exercisers with a social workout platform.
That was a lifeline for the company's customers. Quarterly revenue increased as much as 232% year over year in the fiscal 2021 first quarter, and this growth was at triple-digit levels for four consecutive quarters.
Source Fool.com
