Why Peloton Stock Plummeted 27% in April
Shares of connected fitness company Peloton Interactive (NASDAQ: PTON) stock dropped 27% in April, according to data provided by S&P Global Market Intelligence. While there wasn't any significant news in April, it was a continuation of a slide that's been ongoing and was reinforced with uninspiring results released in February.
Peloton rocketed to stardom early in the pandemic when fitness enthusiasts had to stay home. Affluent exercisers who could no longer access their gyms or run outdoors flocked to Peloton's digitally enhanced machines, which provide a connection to like-minded fitness enthusiasts through live classes.
However, it made some mistakes in the aftermath. Mistakes or not, demand has trickled as the world and fitness centers are open again. Putting the internal and external factors together doesn't make for a pretty picture for Peloton and its prospects.
Source Fool.com
Peloton Interactive Inc. Stock
Our community is currently high on Peloton Interactive Inc. with 10 Buy predictions and 3 Sell predictions.
Based on the current price of 2.93 € the target price of 7 € shows a potential of 139.07% for Peloton Interactive Inc. which would more than double the current price.
