Why Peloton Interactive Is Tripping Over Itself Today
Shares of Peloton Interactive (NASDAQ: PTON) were trading down 8.2% as of 11:53 a.m. EST Thursday, though there was no specific news relevant to the connected fitness company. Its shares have lost half their value over the past month, however, after it delivered a dismal fiscal first-quarter earnings report in early November.
The market is no longer convinced Peloton's business model will fare as well in a reopened economy as management had previously suggested. With gyms back in operation and outdoor fitness opportunities available, Peloton has been unable to gain any traction selling its pricey equipment.
Image source: Peloton Interactive.
Source Fool.com
