The subscriber-based treadmill and fitness company amassed a cult following in the early days of the pandemic, pushing the stock price to euphoric highs. Then everything changed. Individual company narratives vary, but stock declines over 70% are typical after extreme over-valuations.

Peloton has been on a wild ride, announcing its CEO was stepping down and thousands of jobs would be cut, despite seeing a surge in sales early in the pandemic. Here’s why Peloton became a viral success, and why it’s spinning out now.  Here is a direct video link.