Why Peloton Interactive Stock Dropped 7.6% on Wednesday
Today was another rough day for Peloton Interactive (NASDAQ: PTON), which saw its stock drop as much as 7.6%. Shares of the supplier of connected-fitness equipment were down 5.1% at 12:10 p.m. ET on Wednesday.
The news continues to get worse for Peloton, with CNBC reporting that internal documents show that its apparel unit could be in for a disappointing year. After expecting $200 million in apparel sales in fiscal 2022, sales may be closer to $150 million. Given the up-front cost of inventory and marketing, this could end up being a money-losing business for Peloton if this report is correct.
Image source: Peloton.
Source Fool.com
