Peloton’s stock may have rebounded Friday, but it still has a long way to go to recover.
Peloton shares are on a painful ride that keeps getting worse. The stock plunged 24% on Thursday—wiping out billions in market value—amid reports that the beleaguered at-home fitness equipment company would temporarily halt production of its bikes and treadmills. by CNBC, came as Peloton was desperately looking to cut costs amid a “significant reduction” in consumer demand.
Things got significantly worse last November, when shares plunged 35% in a single day after Peloton reported lackluster quarterly earnings. What really spooked investors though: The company massively slashed its sales forecasts for 2022. Peloton went public in September 2019 with a roughly $8 billion valuation. The company didn’t start out as profitable—but surging demand during pandemic lockdowns, starting in April 2020, jumpstarted growth for the company. But just a year later, as demand slowed, Peloton’s losses took hold.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
The End of the Pandemic Boom Is NighNetflix, Peloton, and other Wall Street winners of the pandemic economy are running out of steam, explains KevinTDugan
Consulte Mais informação »
Peloton—Pandemic Stock Darling—Reportedly Halts Production Of Fitness Products, Shares Plunge Nearly 20%Peloton lost nearly a fifth of its value after reports that the company would temporarily halt production.
Consulte Mais informação »
Investors dump pandemic darlings as results disappointPandemic market darlings Netflix and Peloton each saw about a fifth of their market value wiped out on Thursday after both said business was slowing, a sign, say analysts, of growing market jitters about the business prospects of such companies.
Consulte Mais informação »
Pandemic darlings face the boot as investors eye return to normal lifeStay-at-home market darling Netflix slumped on Friday, joining a broad decline in the market value of other pandemic favourites this week as investors priced in expectations for a return to normality as more countries gradually relax COVID restrictions.
Consulte Mais informação »
Dr. Fauci hopeful level of COVID ‘control’ is on the horizon“This is a moving target and a very formidable moving target. We’re continuing to push the envelope to get even better vaccines. There will be tests available online delivered to your home,” Fauci said.
Consulte Mais informação »
Pennsylvania Set State Record For Gambling Revenue In 2021The rebound continues after pandemic-related shutdowns sapped casino revenue in 2020.
Consulte Mais informação »