Shark Group CEO Daymond John joins Yahoo Finance Live to share his thoughts on Black Entrepreneurs Day, the latest from the Musk-Twitter lawsuit, and what Peloton's next steps should be.
Investors gave Peloton Interactive (NASDAQ: PTON) a huge boost early this week after the company announced a new partnership with Hilton Worldwide Holdings (NYSE: HLT): By the end of the year, there will be at least one Peloton bike in every Hilton-branded hotel -- all 5,400 of them. Investors were understandably excited about the deal, and bid Peloton's stock up by 24.3% over the past week, according to data provided by S&P Global Market Intelligence. "This unique and exciting partnership with Peloton -- a brand so many of our guests know and love -- accelerates an important part of that equation, allowing us to enhance the stay with an innovative approach to fitness."
Peloton's (NASDAQ: PTON) turnaround effort since CEO Barry McCarthy took over earlier this year has been erratic at best. The recent launch of a $3,200 rowing machine was weird. Peloton is overloaded with inventory as demand for its pricey connected fitness products craters.