Peloton suffers from end of lockdown as market value slashed by $8bn

Shares in Peloton dropped by over a third on Friday, with the company expecting a major net loss for 2021

Peloton market value drops
(Image credit: Getty Images)

Shares in Peloton Interactive, Inc. fell by over a third on Friday, knocking $8 billion off the fitness company's market value. 

After enjoying considerable success at the start of the Covid-19 pandemic due to the closure of gyms, Peloton has since suffered from the easing of lockdown restrictions. 

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Staff Writer

Ryan is a staff writer for Cycling Weekly, having joined the team in September 2021. He first joined Future in December 2020, working across FourFourTwo, Golf Monthly, Rugby World and Advnture's websites, before making his way to cycling. After graduating from Cardiff University with a degree in Journalism and Communications, Ryan earned a NCTJ qualification to further develop as a writer.