Peloton appears to be following the first of the four rules of holes for managing a crisis: When you find yourself in a hole, stop digging.
AP reported
“’The problem for Peloton isn’t that it has a bad product. Nor is it that there is no demand for what it sells,” said Neil Saunders, managing director of Global Data Retail in a note published Tuesday. ‘The central problem is one of hubris and bad judgment. Peloton incorrectly assumed that the demand created by the pandemic would continue to curve upward.’”
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