Peloton (PTON.US) shares plunged more than 4 % after Wedbush Securities downgraded the fitness equipment maker’s stock to “neutral” from “outperform” saying there may be too much competition now for Peloton to keep up the pace as consumers now have a wider spectrum of workout alternatives, as well as the post-pandemic option of out-of-home workouts. Wedbush analysts believe that Peloton is going to need to introduce innovative new products and initiate some savvy marketing if it expects consumers to choose it over the competition.
Peloton (PTON.US) stock has been moving in an upward trend since the beginning of May, however, some weakness can be spotted in recent days. Stock failed to break above the upper limit of the descending channel which is strengthened by 50 SMA (green line) and price pulled back below the lower limit off the 1:1 structure and major support at $115.20. In case downward move deepens, 200 SMA (red line) should act as the first support. Should the stock price break below it, the way towards next major support at $101.70 will be left open. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
