Inside the management miscalculations and reversals that marked Peloton’s rocky year, from pandemic winner to HBO punchline
A dust-up over the reboot of HBO’s “Sex and the City” capped a tumultuous year for Peloton Interactive Inc., which saw its market value tumble as the company’s leaders struggled to gauge demand for its web-connected bikes.
Heading into 2021, Peloton was racing to keep up with orders. Revenue and the share price were soaring, and executives were telling analysts they hadn’t considered the possibility that the company could be stuck with a glut of bikes if pandemic-fueled demand subsided.
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