"Peloton shares could be headed to $5, short-seller Citron Research says"
"Peloton Interactive Software Inc. shares were down more than 6% in Tuesday trading after short-seller Citron Research penned a negative report on the maker of exercise equipment, arguing that its stock could be headed for a slide of more than 80%.
The Citron analysts, who set a $5 price target on the stock, argue that Peloton’s PTON, -7.72% digital strategy is flawed while its hardware capabilities are both behind the competition and undeserving of a premium multiple. The report also mentions “obvious comparisons to GoPro and Fitbit” and Citron’s regret that it wasn’t “more aggressive” on its GoPro short call after issuing a bearish report on the company in 2014."
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