(Bloomberg) — Peloton shares tumbled on Tuesday, dropping as much as 8.3% after Citron Research wrote that increasing competition and a high valuation could result in a massive sell-off in 2020.The firm sees “clear flaws in the Peloton business model” and wrote that the stock could fall to $5 next year. Based on the Monday close of $34.77, that target represents downside of more than 85%. At current levels, Peloton is up nearly 12% since its September initial public offering.Peloton’s current valuation is “unrealistic” and “disconnected from all reality,” the firm wrote in a report, adding that the fitness company …read more
Source:: Yahoo Finance
