Peloton, once the toast of Wall Street, has seen its stock plummet this year. Here's everything you need to know about its rollercoaster 12 months.

Mary HanburyJan 22, 2022, 21:36 IST

You can log in to your Peloton account from the web and the Peloton mobile apps.Ezra Shaw/Getty Images

Peloton's stock price has plummeted in the past 12 months.
The high-tech fitness company was once the golden child of the connected fitness world.

Just under two years ago, Peloton was the toast of Wall Street. With consumers trapped at home and unable to visit gyms, demand for its high-tech fitness equipment soared.

Peloton slashed the price of its bike but the approach bore little fruit.Michael Loccisano/Getty Images

Just under two years ago, Peloton was the toast of Wall Street. With consumers trapped at home and unable to visit gyms, demand for its high-tech fitness equipment soared.

In the spring of 2021, Peloton came under scrutiny of US regulators who warned customers not to use its Tread+ running machine following reports that a child had died and several others were injured while using it.

Peloton

In the spring of 2021, Peloton came under scrutiny of US regulators who warned customers not to use its Tread+ running machine following reports that a child had died and several others were injured while using it.

Class-action lawsuits against the company trickled in from consumers and investors who said it had knowingly sold a defective product.

Peloton Tread+.Peloton

The company told customers to stop using the treadmill immediately and apply for a refund. It also stopped the sale and distribution of the Tread+.

Regulators want Peloton to conduct a safety recall following reports of injuries on its new Tread+ treadmill.AP Photo/Jeff Chiu

In June, Peloton faced fresh criticism from customers after it disabled the free "Just Run" feature on its Tread+, forcing some users to pay a $39 fee to use it.

Peloton

As the year went on, competition in the market grew and consumers became more comfortable returning to gyms.

Thomas Barwick/Getty Images

But revenue growth continued to slow into the next quarter.

You can log in to your Peloton account from the web and the Peloton mobile apps.Ezra Shaw/Getty Images

Peloton's stock price tumbled, wiping out $8 billion in market value in one day, and stripping Foley of his billionaire status.

John Foley.Courtesy of Comparably

Reports then surfaced that the company had frozen hiring across all departments in order to cut costs.

Courtesy of Comparably

The drama didn't end there. In December, Peloton made its debut in the "Sex and the City" reboot, only not in the way it might have hoped.

Chris Noth riding a peloton in "And Just Like That..."HBO Max

The company was quick to respond and pacify upset users, releasing a new ad that featured Noth and made light of the episode.

Chris Noth attends the NY Premiere of 'And Just Like That' on December 08, 2021.Gotham/GC Images

The scandal didn't end there. Just before Christmas, employees bashed Foley for hosting a lavish party at the Plaza Hotel in New York City, which was splashed around social media.

Peloton Co-Founder/CEO John FoleyKimberly White/Getty Images for TechCrunch

The scandal didn't end there. Just before Christmas, employees bashed Foley for hosting a lavish party at the Plaza Hotel in New York City, which was splashed around social media.

Peloton's entrance into 2022 hasn't been any smoother.

John Smith/VIEWpress

This week, Peloton's stock price took another battering after CNBC reported that leaked internal documents revealed that the company was pausing production of new bikes and treadmills because of weak demand.

Adam Weiss/Getty Images

This week, Peloton's stock price took another battering after CNBC reported that leaked internal documents revealed that the company was pausing production of new bikes and treadmills because of weak demand.

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Peloton, once the toast of Wall Street, has seen its stock plummet this year. Here's everything you need to know about its rollercoaster 12 months.

Just under two years ago, Peloton was the toast of Wall Street. With consumers trapped at home and unable to visit gyms, demand for its high-tech fitness equipment soared.

In the spring of 2021, Peloton came under scrutiny of US regulators who warned customers not to use its Tread+ running machine following reports that a child had died and several others were injured while using it.

Class-action lawsuits against the company trickled in from consumers and investors who said it had knowingly sold a defective product.

The company told customers to stop using the treadmill immediately and apply for a refund. It also stopped the sale and distribution of the Tread+.

In June, Peloton faced fresh criticism from customers after it disabled the free "Just Run" feature on its Tread+, forcing some users to pay a $39 fee to use it.

As the year went on, competition in the market grew and consumers became more comfortable returning to gyms.

But revenue growth continued to slow into the next quarter.

Peloton's stock price tumbled, wiping out $8 billion in market value in one day, and stripping Foley of his billionaire status.

Reports then surfaced that the company had frozen hiring across all departments in order to cut costs.

The drama didn't end there. In December, Peloton made its debut in the "Sex and the City" reboot, only not in the way it might have hoped.

The company was quick to respond and pacify upset users, releasing a new ad that featured Noth and made light of the episode.

The scandal didn't end there. Just before Christmas, employees bashed Foley for hosting a lavish party at the Plaza Hotel in New York City, which was splashed around social media.

Peloton's entrance into 2022 hasn't been any smoother.

This week, Peloton's stock price took another battering after CNBC reported that leaked internal documents revealed that the company was pausing production of new bikes and treadmills because of weak demand.