Peloton Stock: A Rollercoaster Ride from Highs to Lows
Peloton Interactive (PTON) stock has been on a wild ride over the past few years. The company's shares soared to an all-time high of $17.83 in February 2021, but they have since plummeted to as low as $6.62 in May 2023. There are a number of factors that have contributed to Peloton's stock price volatility. The COVID-19 pandemic initially boosted demand for the company's connected fitness products, as people were looking for ways to stay active at home. However, as the pandemic has waned, demand for Peloton products has cooled. In addition, Peloton has been plagued by a number of negative headlines. In January 2022, the company announced that it would be temporarily halting production of its treadmills after a number of safety concerns were raised. Peloton has also been criticized for its high prices and its lack of diversity. As a result of these challenges, Peloton has been forced to lay off employees and cut costs. The company is also facing increased competition from ri...