What on Earth is going on with Peloton?
Things are a lot less rosy for Peloton these days. Once a pandemic darling, the connected fitness company has seen its stock price plunge in recent months. TV shows have turned its bike into a deadly punchline, and there’s been no shortage of rumors speculating which company should buy Peloton to save it from impending doom.
Then today, Peloton kicked off its Q2 earnings call with a flurry of news: the company has a new CEO. It’s eliminating 2,800 jobs globally, scaling back marketing, and putting the kibosh on its North American manufacturing ambitions. Altogether, it’s a grim picture that raises questions about whether Peloton can find a way out of this mess.
As a fitness tech reviewer, Peloton’s business woes are bewildering because…
