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Posted 8/23/2023, 9:02:00 PM

Peloton stock is plunging after a massive recall and fears the $2,500 bikes will keep falling apart

Peloton's shares fell sharply after the company gave a weak revenue forecast for the current quarter and revealed that costs for a product recall were significantly higher than anticipated, leading to a decline in subscribers and a decline in hardware sales amidst a shift in consumer spending towards travel and experiences.

fortune.com

Relevant topic timeline:

8/23/2023

Dow Jones Rises, Yields Dive As Powell's Jackson Hole Speech Looms; Cathie Wood Zooms In On This Stock

Major stock indexes ended higher, with the S&P 500 and Nasdaq leading the gains, despite weak economic data and a drop in yields, and Nike extended its losing streak while Apple rose for the fourth consecutive day; FootLocker plunged on earnings, Netflix rose as analysts see high margin revenue drivers, Analog Devices reported a lackluster quarter, Peloton fell to an all-time low due to a churn in subscriptions and a bike-seat recall, Kohl's reversed higher, and Cathie Wood's Ark Innovation ETF bought shares of Zoom Video Communications.

8/29/2023

Peloton Interactive Inc. stock outperforms market on strong trading day

Peloton Interactive Inc. shares rose 3.75% as the stock outperformed some of its competitors with a fourth consecutive day of gains.

9/17/2023

Amazon's Growth Outshines Struggling Peloton as Consumers Shift Preferences

Summary: While the ups and downs of the stock market can be frustrating, history has shown that investing in strong companies like Amazon can lead to significant returns, while companies like Peloton face uncertain long-term growth prospects.

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