I think Peloton has created a great exercise bike. And some novel new ways to watch workout videos on your phone. It recently hit all-time highs and has been spiking higher. Its market cap is now $38 billion.
I am a fan of technology, growth, and change. But I also know that as a society we have been making exercise bikes for 30+ years. This is not the first exercise bike to hit markets and it won't be the last. Sure they built some subscription models on top of it, but quite frankly, every other bike can do that as well. So can the gyms. So can the apps that track runners.
It will be interesting to watch going forward and the brand is quite strong. Could it go to $60 billion? $100 billion? What's next? I'm not sure, but I would wager that the stock needs to calm down before it rides higher again. I don't have a trade on it yet, but am watching closely. I marked some levels on the chart.
I am a fan of technology, growth, and change. But I also know that as a society we have been making exercise bikes for 30+ years. This is not the first exercise bike to hit markets and it won't be the last. Sure they built some subscription models on top of it, but quite frankly, every other bike can do that as well. So can the gyms. So can the apps that track runners.
It will be interesting to watch going forward and the brand is quite strong. Could it go to $60 billion? $100 billion? What's next? I'm not sure, but I would wager that the stock needs to calm down before it rides higher again. I don't have a trade on it yet, but am watching closely. I marked some levels on the chart.
I work at TradingView helping to build charts, tools, and software for everyone interested in financial markets.
Twitter: twitter.com/scheplick
Blog: scheplick.com/
Twitter: twitter.com/scheplick
Blog: scheplick.com/