I bought $PTON a few weeks ago with the thesis that the subscriptions would be stickier than people expect, and that it could start generating cash if it wanted.

I saw some risks, particularly with management, but I started a small position anyways.

Subsequently, news broke that Peloton was halting production of bikes and treads and then a response from the company contradicting that report. Next, CEO John Foley announced he would be stepping down as CEO and taking the role of executive chairman. Barry McCarthy, formerly of Netflix and Spotify, is taking the CEO’s office, and I am cautiously optimistic about the future.

He is committed to engineering a remarkable turnaround and seems to be a no nonsense type of guy. I was conflicted for months before buying $PTON. Now, I’ve been conflicted about what to do with all of the chaos of the past month. The CEO change, however, has bought the position some time. I’m intrigued and curious to see if McCarthy can do something amazing.

Have you ever owned $PTON and do you think the company can find its footing?