Why Peloton Interactive Stock Got Crushed in September
Shares of Peloton Interactive (NASDAQ: PTON) slumped 21% in September, according to data provided by S&P Global Market Intelligence. It was bogged down by another disappointing earnings report in August and overall investor pessimism.
Peloton exploded early in the pandemic, becoming a household name despite its connected-fitness equipment's premium price tag. But it has crumbled in the aftermath, laden by a string of missteps, slowing demand, and safety issues.
The founder left the company in the midst of the fallout, and CEO Barry McCarthy was hired in February 2022 to clean up the mess. He immediately laid out a list of short- and long-term goals. The first 12 months of his tenure were focused on stabilizing financial performance, and the following months have been dedicated to revitalizing growth.
Source Fool.com
Peloton Interactive Inc. Aktie
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