Peloton Can’t Catch A Break
January 20, 2022
Peloton continues to struggle following a tumultuous year and revelations of potential layoffs, halted production, and a stock sale by insiders.
The company reported a net loss of $372 million in fiscal Q1 2022, a steep increase from the $49.8 million loss in the same period a year prior. Prior to the decline, Peloton executives and insiders sold roughly $500 million worth of stock when share prices were in better shape in the fall of 2020 through much of 2021, per SEC filings.
The at-home fitness brand’s market cap has fallen by at least 80% in the past year. Shares of the company closed at $24.22 on Thursday. Front Office Sports