Peloton Shares Soar Like Icarus
With the recent announcement that it had passed 1 million subscribers, Peloton shares continued to move closer to the sun at $46 which puts the company valuation at $12.5 billion and represents an increase of 40% since the beginning of the month and 50% since the beginning of the year. PTON said it has already added 114,000 new subscribers to its roster since the beginning of the quarter, clearly exceeding its forecast for the period that suggested it would add 154-164,000 for its final fiscal period this year.
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