Peloton is a great product, not a great stock, analyst says

Shares of Peloton Interactive (PTON) have fallen by as much as 20 percent on Thursday after reporting mixed second-quarter results. Third-quarter guidance was also a disappointment for investors.
Needham & Company Managing Director Bernie McTernan points to one issue: how much the company is spending on marketing compared to the payoff they're getting from it. "The difficulty is that... this past quarter they spent $200 million on marketing, but net adds for their connected fitness subscriptions were only up forty thousand. So it's really that equation...it's just not working," McTernan says. Overall, McTernan states "The problem is, it's a great product, just not a great stock at this point."
Watch the video above to hear who McTernan says could potentially buy Peloton as speculation grows that it could become a takeover target.
#youtube #Peloton #stockmarket
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