Peloton hits the wall after sprinting through pandemic

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — Peloton has suffering its worst day as a publicly traded company. The sell-off came after the exercise bike and treadmill company told investors that it will likely lose more money than it had expected in fiscal 2022. Peloton thrived during the pandemic, recording its first and only profitable quarters. Americans unable to hit the gym, instead set up places to work out at home. But Peloton’s sky-high sales have stalled since the rollout of COVID-19 vaccines. Gyms have re-opened and people are beginning to spend money on other things, like travel and restaurants. Its stock lost 35% of its value.