Peloton Turns From Lockdown Darling to ‘Mispriced’ Growth Stock
- Fitness company slumps 34% to the lowest since June 2020
- Going-out stocks Airbnb, GoPro, Expedia rise after results
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Peloton Interactive Inc. is going from a lockdown darling to a startup struggling to make money as the world comes back to life, boosting the likes of Airbnb Inc.
Shares of Peloton fell as much as 34% Friday to the lowest since June 2020, helping to erase most of the gains seen as it surged during the height of the pandemic. That’s putting it among several so-called lockdown winners watching demand fade as the world returns to near normalcy. Compare that to the rally in Airbnb and wearable-camera maker GoPro Inc. -- two companies that are benefiting as people come out of virtual hibernation.