Peloton Is Down 70% This Year: Time to Buy the Dip?

Peloton's business is definitely in worse shape than it was at the start of 2021. The majority of Peloton's latest price drop this year came after it reported fiscal first-quarter 2022 earnings, which covered the three months ended in September. Fitness subscriber guidance was reduced from 3.63 million down to a range of 3.35 million to 3.45 million, revenue guidance was reduced from $5.4 billion down to between $4.4 billion and $4.8 billion, and gross margin guidance was reduced from 34% down to 32%.