Its stock is up 75% in the past month and 239% year-to-date. It’s easy to see why the stock’s garnered interest on the Reddit thread. I wouldn’t touch PTON with a 10-foot pole.Ĭarvana (NYSE: CVNA) made ’s list of the top 10 stocks mentioned on WallStreetBets. The question now is whether investors buy the viability of such a plan. So, it is doing the only thing it could do other than selling the business to another fitness equipment company for pennies on the dollar and pivoting to digital. That’s a very confident way for the company to say it could not generate sustainable revenue and profit growth by selling expensive exercise bikes. Peloton’s chief marketing officer Leslie Berland said during an interview with CNBC “We know that the perception externally does not match the reality of who we are.” Adding “This company historically has been thought of as an in-home bike company for fitness enthusiasts but over the years, it has evolved into something that is much more bigger, much broader than that.” T he rebrand was announced on May 23, with the company saying it was moving its business away from its focus on hardware and shifting it to high-margin subscription revenue. That’s because the fitness business’s stock has gained nearly 20% in the past week on news the company is rebranding to focus on its subscription model. Peloton Interactive (NASDAQ: PTON) could be my most controversial meme stock to avoid.
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