Peloton shares hit all-time low after connected fitness company posts another loss, lowers guidance

Peloton sank to its lowest price on record after it reported another loss and gave investors a lukewarm forecast as the connected exercise company continues to struggle following its pandemic hot streak. Sales fell to $744 million in the second quarter, which company executives consider its most important quarter. That amounts to a 6% decline from a year ago and a whopping 34% fall from two years ago. New York-based Peloton lost 54 cents per share in the period and hasn’t posted a quarterly per-share profit in three years. Shares in Peloton fell another 23% in midday trading Thursday, to $4.27.