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Coach
Because one person is selling? I still love mine, does that change your mind? How about if is said my wife loves it too? Now we have 2 people for this one sale.
Vp1, I hope this isn't taken as snarky. I have been looking at the used market, just as I do to be bullish on autos and used auto retailers.
PTON bike in my area went from few for resale on FB and Craigslist, priced near retail a few months ago to now 10-20 listed per week in my metro area listed at $1700.
That is NOT the only item in my thesis. Delivery now is available in less than 10 days. These are just simple facts that go into the larger analysis, but are easy to track. Kind of like looking at steel futures for pricing NUE.
I like that they felt the need to say “super lightly used”.
Why do you think they can't turn a profit?
PTON NEEDS to put up 30-50% year over year growth to justify valuation. Just continuing as a good business is NOT enough.
Subject Expert
It’s just supply chain optimization.
Surprised OP is having a hard time selling. I got neighbors wanting to buy mine at the price I paid cause of the 10month wait to get a new one
The wait times are not long anymore. They were briefly during the beginning of the pandemic. Anyone with that kind of money wouldn't bother paying a little more for a brand new one and free delivering and setup, instead of dragging that 1 ton machine themselves.
Interesting. Didn't realize it was still going on. 👍🏼
The market is falling for used bikes. This is part of my thesis that people will slowly give up on Pelotons. Great product, but a weak substitute for going to a gym for some buyers. The used market is dropping if you look at Craigslist, wait time is down for new units.
Good companies can get over extended. I think Peloton is.
Full disclosure, I have a bear put diagonal on PTON. The IV is so high the delta is less important than normal.
Enthusiast
The comments say it’s not hard to sell a used one?
Coach
MD - non US markets primarily.