The Morning After: Peloton's grim post-pandemic reality

Peloton had a great pandemic. It's a weird thing to say, but the company's premium exercise equipment (expanding from bikes to treadmills and even weight-training tech) were the hot workout-from-home products. That boom made some people (not normal, sensible people) suggest we were never going back to bricks-and-mortar gyms once the world reopened. Now, Peloton's latest financial numbers and statements are not great, and further cuts, nips and tucks are now on the cards. Its shares have gone from 156 in 2021 to less than 3 today.