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Peloton CEO John Foley says he finds company's falling share price baffling
11 Nov 2019 . BY Tom Walker
Foley told CNBC the sliding share price was 'a bit of a head scratcher'
Photo: Peloton
Peloton co-founder and CEO John Foley has admitted that he is baffled as to why shares in the company have "gone backwards" since its IPO in September.

The company's share price has fallen 14 per cent from its initial value since the company listed on the US-based NASDAQ on 26 September.

The shares took a further hit on 5 November – the day it released its first quarterly results – trading as much as 9.5 per cent lower. Shares in the company are currently valued at around US$23.50 – considerably lower than the IPO price of US$29.

Speaking to financial news service CNBC, Foley said the slide in the share price "is a bit of a head scratcher".

"We had triple-digit topline growth and single-digit EBITDA loss – and narrowing losses – in a climate that people want profitability.

"For us, profitability is a managed outcome – we could pull back on growth and become profitable tomorrow." (To see the interview with John Foley in full, click here).

Peloton has become the latest in a long list of tech-oriented start-ups to have experienced a lack-lustre IPO in recent times. Others include peer-to-peer ridesharing firms Uber and Lyft.

According to data from Bloomberg, Peloton's IPO marks the third-worst trading debut in 10 years in the US for companies that have raised at least US$1bn.

The company is still, however, valued at US$7.2bn.

Peloton was founded in 2012 by John Foley, Tom Cortese, Hisao Kushi, Yony Feng and Graham Stanton.
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Jobs   News   Products   Magazine
PRODUCT NEWS
Peloton CEO John Foley says he finds company's falling share price baffling
11 Nov 2019 . BY Tom Walker
Foley told CNBC the sliding share price was 'a bit of a head scratcher'
Photo: Peloton
Peloton co-founder and CEO John Foley has admitted that he is baffled as to why shares in the company have "gone backwards" since its IPO in September.

The company's share price has fallen 14 per cent from its initial value since the company listed on the US-based NASDAQ on 26 September.

The shares took a further hit on 5 November – the day it released its first quarterly results – trading as much as 9.5 per cent lower. Shares in the company are currently valued at around US$23.50 – considerably lower than the IPO price of US$29.

Speaking to financial news service CNBC, Foley said the slide in the share price "is a bit of a head scratcher".

"We had triple-digit topline growth and single-digit EBITDA loss – and narrowing losses – in a climate that people want profitability.

"For us, profitability is a managed outcome – we could pull back on growth and become profitable tomorrow." (To see the interview with John Foley in full, click here).

Peloton has become the latest in a long list of tech-oriented start-ups to have experienced a lack-lustre IPO in recent times. Others include peer-to-peer ridesharing firms Uber and Lyft.

According to data from Bloomberg, Peloton's IPO marks the third-worst trading debut in 10 years in the US for companies that have raised at least US$1bn.

The company is still, however, valued at US$7.2bn.

Peloton was founded in 2012 by John Foley, Tom Cortese, Hisao Kushi, Yony Feng and Graham Stanton.
PRODUCT NEWS
Fisikal chosen as tech partner for ‘JP4’; new health app from fitness expert, Jessie Pavelka
Fitness expert and television host, Jessie Pavelka has collaborated with Fisikal, experts in digital management solutions, to create the new JP4 app, a premium 12-week personal health and fitness transformation programme that takes the user on a journey of change through four key elements of health.
Let's get restarted: Physical Company offers advice on keeping gym members safe
As countries around the world gear up to relax their lockdown rules, there remains a question mark over gyms and studios, which in many markets will be one of the last sectors to be given the green light.
myFitApp launches branded live-streaming as part of its COVID-19 support package
Innovatise, the company behind myFitApp, has announced the immediate availability of its customer- branded live-streaming solution.
EGYM presents Corona Gym Solution, for the successful re-opening of fitness studios
Finally, the time has come: fitness and health facilities around the globe are gradually resuming operations.
Bicester hotel opens purpose-built performance facilities to attract new target audience
The Bicester Hotel and Spa has launched purpose-built fitness and performance facilities to create a standalone, unique offering to attract a new demographic to the site.
EGYM launches digital functionality to help gyms adjust to a post lockdown world
As Governments turn attention to a lockdown exit strategy, the world is bracing itself for a ‘new norm’ where social distancing and heightened hygiene requirements become a part of daily life.
Adidas calls on BLK BOX for flooring solutions at new World of Sports complex
Adidas believes that creators, just like athletes, need an environment that inspires their employees to perform and believe that through sport, we have the power to change lives.
Gympass partners with Wexer to launch on-demand workouts for operators
Gympass has launched Gympass Plus - including an on-demand platform powered by Wexer - for its 2,200+ operator partners. The platform comprises more than 500 workouts from 18 content providers including Zumba and Gaiam.
What’s your Covid-19 exit strategy? How will you use this time to relaunch your business to thrive, not just survive
There is no escaping the fact that we are operating in extraordinary times. Our physical health clubs, gyms and studios are closed and we’re trying to keep our membership engaged, fit and healthy via online and digital training.
Incorpore and MoveGB ink groundbreaking partnership to transform corporate wellness offering
Incorpore and MoveGB have entered into a landmark partnership, combining the UK’s largest provider of corporate gym memberships with the nation’s biggest network of classes.
fibodo launches Fit 4 the Fight initiative to keep people active in the wake of the coronavirus
fibodo, a booking management platform for the fitness industry, has launched Fit 4 the Fight, a new initiative encouraging members of the public to keep active, as well as keep personal trainers and fitness operators working in the wake of the coronavirus.
Crown collaborates on £2m luxury spa at Torbay’s Lincombe Hall hotel
Boutique AA 4-star destination Lincombe Hall Hotel, Torquay, has expanded its leisure provision by unveiling a £2m designated luxury spa.
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COMPANY PROFILES
EXF Fitness

EXF design and manufacture equipment from their UK base in Suffolk. [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

VIDEO GALLERY

Technogym mywellness app
Improve your training experience. All your data in a single app. Find out more...
+ More videos  

DIRECTORY
+ More directory  
DIARY

 

10-11 Jul 2020

IFBA Live

The Slate at Warwick Conferences, Coventry, United Kingdom
16-17 Jul 2020

APSWC Round Table 2020

Naman Resort, Da Nang, Vietnam
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
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