I’m a $PTON bag holder, but this was the worst quarter yet.
Losing money on connected fitness (on gm$!)
Sitting on tons of inventory:
Burning cash and described as “thinly capitalized”.
This isn’t Barry’s mess (you can’t change trajectory in a month), but he’s gonna have his hands full.
The opportunity cost of holding this heavy bag on its downturn has been sizable. A shame as a believer in the company…does an acquisition make sense as a possible way to change trajectory of the brand? The demise happening faster than warranted imo