The connected fitness company, which went public in September 2019 at $29 per share, is now trading below that.
On January 20, Peloton stock tanked more than 23% after CNBC reported that the connected fitness company is planning to suspend production of its bikes and treadmills. However, the company has since disputed the report and said in a memo to employees that it’s “right-sizing” production.
You may be surprised to know that just a year ago, Peloton's stock hit an all-time high of over $171 as the company reported triple-digit revenue growth as more people became home-bound due to pandemic.
However, in November, Peloton stock plunged from $86 to $55 after the company reported a loss in its fiscal first quarter.
Watch the video above to know other key moments in Peloton.