Peloton, the exercise equipment company, has reported a big loss in the fiscal fourth quarter. They reported growing losses and slumping sales, and that caused the share price to drop by over 20%. This comes a day after the share price rose by 20%, due to the news of Peloton’s partnership with Amazon. This quarter’s loss is the sixth consecutive quarter that the company reported a loss. The company’s CEO, Barry McCarthy, said he expects the market to be challenging for a while. Customer demand for at-home workout machines has been dropping from the highs during the Covid pandemic.
Source: https://www.cnbc.com/2022/08/25/peloton-pton-reports-q4-2022-losses-mount.html
