We joined Yahoo Finance’s The Ticker on Thursday, September 26 to provide insights into Peloton’s business and valuation.

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A review of Peloton’s (PTON) recently filed S-1 reveals the business is moving farther away from profitability. Suspect accounting and outrageous claims about its total addressable market suggest a WeWork-like perception of reality. With these issues, it’s hard to see how Peloton can achieve the cash flows implied by its valuation.

This article originally published on September 26, 2019.

Disclosure: David Trainer, Sam McBride, and Kyle Guske II receive no compensation to write about any specific stock, sector, style, or theme.

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