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Peloton's stock price has fallen 95% from its highs after the COVID-19 pandemic forced a global shutdown, capitalizing on fitness enthusiasts who couldn't go to physical gyms. The company has tried partnerships, acquisitions, rental services, and a new CEO, but its net income was only $14 million in its latest quarter. Peloton seems stuck in a phase of trying different things, which is a red flag for its core business model.
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