Peloton’s Stock Plunge Continues Amid Weak Earnings and Bleak Outlook
Peloton Interactive's shares tumbled more than 20% to hover NEAR $4.50 after reporting disappointing holiday-quarter results. The fitness company posted a wider-than-expected loss of 9 cents per share and a 3% year-over-year revenue decline to $656.5 million, missing analyst estimates.
Wall Street remains optimistic about a potential rebound, with some analysts projecting a doubling of the stock price. However, Peloton hasn't traded in double-digit territory for nearly a year, a far cry from its pandemic peak above $150 per share.
The company's forward guidance offered little comfort. Peloton forecasts current-quarter revenue of $624 million and full-year sales between $2.40 billion and $2.44 billion—figures that failed to inspire market confidence in its turnaround strategy.
