- Pandemic favorite Peloton is up 5.5% on Tuesday on the release of their new ‘Altos' cycling shoes
- With the stock losing 75% of its stock value since highs in December 2022 – can the company recover?
When investors look back at the pandemic years; Peloton will be one of those stories used to summarise lockdown market trends. The state-of-the-art exercise bike was a golden goose with its incredibly timed IPO matching the kickoff of nationwide shutdowns, including the closing of gyms, provoking a surge in cutting-edge kit for stay-at-home exercise.Â
Since recovery, however, Peloton hasn’t stopped dropping, despite a brief bout of panic buying when the Omicron variant sent traders back to pandemic favorites; but other than that, PTON stock has lost over 75% of its stock value since the high’s of December 2020.Â
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The company has seen constant downgrades as changing consumer patterns dictate a return to pre-pandemic trends, leaving short sellers to squeeze every drop of juice out of PTON stock as the company was left as a lackluster memory of lockdown habits.Â
The only real hope for Peloton was some sort of pivotal marketing change that might welcome back buyers. Well, today Peloton made an announcement that provided some relief. The company has introduced its ‘Altos' cycling shoes, and the market seemed to respond well. PTON stock is currently showing a daily gain of 5.5%, but will the company be able to make up for lost revenue through minor accessories? Or are Peleton clutching at the final few straws they have left?