Why Peloton Stock Dropped in April
Shares of connected at-home exercise equipment maker Peloton Interactive (NASDAQ: PTON) had a rough April, continuing the downward trend that's been ongoing since the start of the year. The stock is down 37% year to date, including last month's 12.5% drop, according to data provided by S&P Global Market Intelligence.
April began on a positive note for Peloton. It completed its acquisition of gym equipment maker Precor, which will benefit the company in several ways. One is that it will add manufacturing capacity, which will help Peloton address the slow-delivery problem that has contributed to the stock's decline from the highs it reached in January.
Peloton exercise bike. Image source: Peloton Interactive.
Source Fool.com
