When Peloton had its IPO last year, it seemed to do well at first, but then it really started to flop. People wondered why a stationary bike company should be so richly-valued, plus it got a lot of backlash from its sole commercial, which people took as sexist. PTON got a lot of publicity, but not really the kind it wanted.
What a difference a pandemic makes. The stock is up about 600% in the past half year (!!!!!!!!!!) and has a market cap of $32 billion. Thirty Two BILLION dollars for a stationary bicycle. Plus, its stock seems to go up about 5%, day after day, every day, without fail. Just jaw-dropping.
I also discovered the rather amusing fact that this $32 billion company doesn’t even own the URL Peloton.com – – it’s owned by a small niche software company! The bike-maker had to settle for the awkward and kind of meaningless OnePeloton.com which I find bizarre. Could they seriously not pay enough to the little company to give that sweet URL off of them? (For myself, I wanted Prophet.com but settled for Prophet.net, which wasn’t a bad compromise back in the day).
Here we see the lovely actress who was in the aforementioned ad commiserating with friends for not buying the stock in volume back in March.
