5 Biggest Losers This Week

3. Peloton Interactive, Inc. (NASDAQ:PTON)

Number of Hedge Fund Holders: 39

Peloton Interactive, Inc. (NASDAQ:PTON) is next on the list of 5 biggest losers this week. The stock lost about 16 percent of its value in the current week after it decided to sell its exercise equipment through Dick’s Sporting Goods stores.

The latest partnership is a part of its broad efforts to revive its sales. However, many investors are worried the move could hurt Peloton’s profit margins. Peloton Interactive, Inc. (NASDAQ:PTON) shares have already lost about 80 percent of their value this year alone.

Separately, investment management firm Rowan Street Capital also discussed Peloton Interactive, Inc. (NASDAQ:PTON) in its first-half 2022 investor letter, stating:

“Peloton Interactive, Inc. (NASDAQ:PTON) has been a costly mistake for the fund thus far. We started a small position back in September of 2020 and added to it as the stock declined and the price got “cheaper and cheaper”.

We would like to walk you through the rationale why we bought the stock in the first place and why we added to the position. We will give you just a short summary in the main body of the letter, and for those who are interested in a more detailed version, we have included a write-up on Peloton in the Appendix at the end of this letter.

The trial is still out whether we made a mistake on the company, but we definitely made the mistake on the weighting of our position and the price that we originally paid…” (Click here to read more)