Peloton Interactive Is Down 14% This Week. How Much Lower Can It Go?
Shares of Peloton Interactive (NASDAQ: PTON) fell 13.6% this holiday-shortened week, according to data from S&P Global Market Intelligence, and there doesn't appear to be a bottom in sight.
An economy quickly taking a turn for the worse doesn't bode well for a manufacturer of luxury-priced connected fitness equipment. When inflation is running at 40-year highs, a gallon of gas is at the highest prices ever seen, and the prospects for a recession look all too real, spending $1,200 on a stationary bike or $2,300 on a treadmill is a non-starter for many.
Image source: Peloton Interactive.
Source Fool.com
