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I think the better question you should be asking is why these stocks were priced so high to begin with
Lots of people bought Pelotons in 2020-2021, but it does remain to be seen if they have a continued (slower) sales growth trend from here or 2021 turns out to be their peak sales year. In 2019 they were on a growth trend which got accelerated a lot by COVID. But they may hit saturation point in demand for their product at a lower level than they originally projected back then.
Market prices are determined by the market. So, it has to be “fair”
Whales are participants in the market, too
Peloton stopped manufacturing bikes AND literally can't sell bikes already in inventory. The value of a 0% growth stock is nothing, zero, zilch.
Coach
I’m seeing them go for next to nothing on FB marketplace. The trend is over.
"Fair" doesn't seem to be the right question.
My question is do we think some of these stocks are oversold? I get that tech stocks went through the roof during the pandemic and were way too high, but for some of them to be significantly lower than their 2019 levels make me wonder if they are now oversold. I know the interest rates are higher, but not by THAT much.
Mentor
I agree
I recommend the May 9th episode of the This Week in Startups podcast on the topic.
That's the price people are currently willing to buy/sell it so... yes it's fair.
Lol “fair”.