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Business & Technology

Vicious Cycle? Peleton Stock In Downward Spiral

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Vicious Cycle? Peleton Stock In Downward Spiral

2019-12-11 01:26:171 Oct 2018 01:53 AM EST

Peloton may have bigger problems than the PR disaster from its controversial ad that became a meme. Short-seller Citron Research said Tuesday it expects the stock to plunge nearly 85% to just $5 a share. Shares of Peloton plunged nearly 6% Tuesday to about $32. But that's still above the company's initial public offering price of $29 from September. CNN reports Citron said in its report that Peloton is reminiscent of GoPro and Fitbit. GoPro and Fitbit were once market leaders in their respective categories of wearable action cameras and fitness trackers. But an onslaught of competition hurt their sales and profits and proved that they were just one-trick ponies. Citron said Peloton's business model has nothing that stands out and makes them unique enough to be immune from competitive threats. Once you get past management's grandiose talks, you have a company that sells hardware and software. Citron Research

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