While stationary exercise bike company Peloton Interactive once dominated the at-home fitness market, its present-day losses have been anything but static.
Reported declines in paying subscribers and an ongoing equipment recall pushed Peloton’s stock down 23% during trading Wednesday, marking a 50% decline across the course of the past year.
Wednesday’s closing price is Peloton’s lowest since the company first went public in 2019.
As Peloton continues to lose its subscriber base, it remains to be seen if the stationary bike behemoth can regain its forward momentum.
