PTON Stock Recent News
PTON LATEST HEADLINES
Peloton's stock has plunged 98% from its all-time high. The company is struggling to stabilize and right-size its business.
Declining sales and ongoing net losses continue to crush Peloton. Not only will Peloton's need to drastically improve its core business, but it will also need to penetrate new and larger end markets.
NEW YORK, April 18, 2024 (GLOBE NEWSWIRE) -- Peloton Interactive, Inc. (NASDAQ: PTON) will release its third quarter fiscal 2024 results before the U.S. stock market opens on Thursday, May 2, 2024. The company will host a conference call and live audio webcast to discuss the results at 8:30 a.m. (Eastern Time) that day.
Peloton rose to fame during the height of the coronavirus pandemic when people were stuck at home and couldn't go to the gym. Once the world had learned to live with COVID, Peloton shifted toward a subscription model and away from the gym gear that had made it famous.
Connected fitness company Peloton has stopped offering an unlimited free-membership tier that was once a key part of its growth strategy.
Peloton debuted an unlimited free membership option for its app last year in a bid to win over new customers, but the company quietly ended the initiative.
Peloton is still trying to find its footing after its major missteps during the height of the pandemic. Some of its new initiatives are working, but they're not enough to fully offset the company's problems.
Bears have faced a challenging few years, feeling like an eternity since the 2019 flash crash had pessimists forecasting a financial downturn akin to the 2008 crisis. Similarly, the early stages of the pandemic painted a grim economic picture — until unexpected monetary policies propelled stocks to unprecedented heights, even as reasonable assessments made them clear stocks to sell immediately.
Peloton shares have continued their spectacular nosedive so far in 2024. Improving revenue and reaching profitability would help boost the share price.
The S&P 500 fell 1.1% last week, and while not huge, it was the steepest weekly decline since December. In a bull market, sell-offs are both a buying opportunity and a chance to trim underperforming stocks.