Activist investor
In a letter to the board of
“The company has gotten too big, too complex and too damaged for
Peloton sales spiked as quarantined Americans bought at-home exercise equipment as a way to stay fit. And it couldn’t keep up with demand. But its success has created additional competitors who sell cheaper bicycles and exercise equipment. In addition, many high-end gyms are offering virtual classes that once were Peloton’s biggest draws. And in recent months, Americans are returning to their local gyms.
Last August, the company cut the price of its main stationary bike — the product that was the cornerstone of its original popularity — by
Blackwells also said Peloton should look into selling the company, and suggested that its loyal customer base could make it an attractive acquisition for businesses such as Nike, Apple, Sony or
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