by Chris Black
The entire global exercise market for stationary bikes is $180 million a year, including every home, gym, and school in the world, with 85% of that being bikes under $1000.
Valuing Peloton over a few million was always insane (Tesla is also MASSIVELY overpriced).
Peloton was a stock scam since day one. They had commercials before they even manufactured a product.
They put stores in malls where you could order a bike, but not take one home.
Wall Street scammed the IPO, and the company would have dumped to zero, but Covid came along and gave another opportunity to scam shares higher.
There was this idea that Peloton would become another Lululemon.
It already was a total scam just like Lulu, so it didn’t have to become anything.
Does anyone honestly believe every Lulu store moves $50k a day in merchandise?
Based on stated revenue, that is the case. That is a lot of yoga pants to move.
— Delreo Johnson (@JohnsonDelreo) August 12, 2022