Should Peloton Bulls Change Their Outlook After Its Lukewarm IPO?
After debuting on the Nasdaq with an IPO price of $29 per share, digital fitness company Peloton (NASDAQ: PTON) took some steps backward, closing 11.2% down after its first day of trading. The stock has continued to drop, now down 22% as of this writing, which is likely to give even the company's biggest bulls some pause.
Not surprisingly, CFO Jill Woodworth told MarketWatch that the company wished it had done better on its debut day, "but we're in it for the long haul and are excited for capital to continue to grow our business."
Image source: Peloton.
Source Fool.com
