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February 8, 2022
Keep an eye on Peloton (PTON).
While the stock has been an abysmal disaster, the company is attempting to turn things around. For one, PTON is replacing co-founder John Foley as CEO with former Spotify and Netflix CFO Barry McCarthy. The company is also, unfortunately, cutting 2,800 jobs.
On top of that, the company just cut its full year revenue guidance and connected fitness subscriber guidance.
According to a company press release:
“Peloton Interactive announced a series of steps it is taking to position the business for long-term growth while establishing a clear path to consistent profitability and sustainable free cash flow. Once these actions are fully implemented, the company expects to achieve at least $800 million of annual run-rate cost savings through operating expense efficiencies and significant margin improvement in its Connected Fitness category.”
At the moment:
Hot Trading Tip
Don’t write off Bitcoin just yet.
After plunging from nearly $70,000, the digital currency is showing signs of life. Should it continue to recover along with the broader market, Bitcoin could test $100,000.
In fact, according to Samson Mow, chief strategy officer for Blockstream, as quoted by Yahoo Finance, “We’ll see $100k within the first half of the year.”
According to NewsBTC.com, “The experts from the top fintech companies predict that by the end of 2022, bitcoin will reach an all-time high of $93,717 – more than 24K dollars higher than its current all-time high price.”
They added, “Experts predict that by the end of 2025, bitcoin will trade at $192k and mount up over 300% from its November 2021 peak and reach nearly half a million dollars by 2030.
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