Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Peloton Interactive Inc (NASDAQ:PTON) shares are trading lower Wednesday. What's going on?
Social media chatter surrounding Peloton seems to be picking up today. Some traders are highlighting a Seeking Alpha report, suggesting the company's app may be seeing demand weakness.
According to the report, UBS Evidence Lab data showed declining adoption levels of the connected fitness app in the U.S. UBS analyst Arpine Kocharyan reportedly noted that Peloton's share of downloads are declining year-over-year based on proprietary app analysis.
Meanwhile, the report points out that Planet Fitness Inc's (NYSE:PLNT) download volume has been surging over the last two months and taking market share.
However, this data could be skewed. Benzinga previously reported that Planet Fitness announced it would allow teenagers between 14 and 19 years of age to workout for free in its clubs from May 16 to Aug. 31. This seems to have caused the surge in download volume.
Related Link: Apple App Store Analysis: This Fitness App Just Passed Facebook, Snapchat, Amazon, Netflix And Disney+
JPMorgan analyst Doug Anmuth maintained Peloton with an Overweight rating and lowered the price target from $24 to $20 on Wednesday.
PTON Price Action: Peloton is making new 52-week lows today.
The stock closed down 4.16% at $9.45 at press time, according to data from Benzinga Pro.
Photo: courtesy of Peloton.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!