Peleton, anyone?

Anyone remember Peleton, one of the Covid darlings, that most of us exited way in time? Well here’s an article from today’s NY Times entitled:

Trying to Sell Your Old Peloton Bike? So Is Peloton.…

And here’s a tiny excerpt from the article:

The focus on resale comes as Peloton’s sales continue to plummet. Last week, the company reported a $1.2 billion quarterly loss.

It has lost money for six straight quarters. Mr. McCarthy, who stepped into his role in February, is working to cut costs and earn a profit. In recent months, the company has slashed jobs and closed stores. Mr. McCarthy has said reaching “value-minded” consumers, including by reselling used bikes, will be key for the company’s growth.

Did you catch that $1.2 BILLION quarterly loss??? Sometimes you just have to know when to get out of a company!