$PTON
Added 2024-05-07 17:03:42 +0000 UTCI eluded to the possibility that $PTON has become so cheap right now that you would expect some strong sports brands would be considering adding this to their ecosystem....and news dropped today that a consortium was considering making a bid for the company, share price jumped on this news and is settling at +13% right now.
We can also see that the bounce went to the top of the trend line and stopped out which is close to $4.
A break out here and the only hurdle in the way would be the 200 Day MA at $5.25, before testing the blue support line again at $6.66 (odd)
There is a strong brand here and it is on sale relative to its previous levels, I am not surprised to see people interested.
Comments
PTON is a good company with a great product. I used to own shares in the long gone days of $100’s when it was booming. Sold right before their fall from grace. I believe management failed at managing growth post-covid, some controversies and potential acquisitions. Personally, have a hard time to see this one coming back, yesterday’s spike seems to be only rumor-based as it has happened in the past. IMO there are more attractive places to invest right now.
Carlos Callejo
2024-05-08 05:24:47 +0000 UTC
