The Peloton Christmas advert backfired quite spectacularly. Faced with the loss of $1bn of its value as a consequence, the home exercise bike firm… defended it.
Over the weekend Hollywood actor Ryan Reynolds had a pop, hiring the actress who plays ‘Peloton Wife’ to appear in a promo for his gin that very clearly references the ad. The actress – seemingly playing the same character – drinks solemnly with friends and toasts ‘new beginnings,’ clearly scarred by a recent experience.
Short-seller Citron Research this week produced a report claiming that Peloton shares are only worth $5.
CNN reports that Peloton shares dropped 6% on Tuesday and another 6% on Wednesday to just under $31.
This is still above the company's initial public offering price (IPO) of $29 in September, but Citron reckons that the competition is “not only making virtually identical exercise bikes but ones that are both more affordable and functional," which means there is little reason to spend $2,300 on a Peloton bike.
The report says that Peloton CEO John Foley, "has a reputation for 'loose lips' and 'shooting from the hip,' " and has a "hard time with the truth."
Peloton was valued at about $8 billion at its IPO. Citron says it’s worth $1bn.
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I am definitely a fan of the 'banking my right to complain' approach!
I voted Green, so I'm pretty sure I can complain about the result tonight.
Good on you for doing your democratic doody!
I've just been to vote for a party that won't win a majority tonight, but does have a clear policy on the biggest issue of the day; which sadly isn't active travel. We shouldn't leave that up to party policy, it should be agreed between all parties and run by commity. Was I wasting my time; probably. Will I be able to complain later? Inevitably.
Here's a hmmm review about a bicycle touring movie-
https://www.theguardian.com/film/2019/dec/12/the-bikes-of-wrath-review-c...
I'm not sure they're very impressed with it:
Oh, is there an election on?
I'm surprised they allow people to park their bikes that close to polling stations.
Every remembrance sunday, they prohibit bike parking anywhere near the cenotaph here in the centre of Bristol, citing the risk of terrorism...
Loving that Peugeot. I had one in a similar paintjob, though mine probably never looked that good.
Oh, and whatever the weather, get out and vote.
I always walk, the polling station has never been far away enough to ride.