Why did Peloton stock drop today? Discretionary spending is at risk

May 23, 2022 3:43 PM ETPeloton Interactive, Inc. (PTON)By: Clark Schultz, SA News Editor13 Comments

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Peloton Interactive (NASDAQ:PTON -6.5%) fell on Monday as the exercise equipment and services stock continued its trend of failing to put together a string of winning sessions.

Volume on PTON was just over 8.5M shares, which is actually a step down from the normal amount of activity.

While some analysts on Wall Street tried to call out a bottom last week on Peloton's (PTON) share price, UBS stuck with a Sell rating on the view that the capital-intensive nature and unclear demand trajectory will keep investors skittish.

The Seeking Alpha Quant Rating on PTON is also still flashing Strong Sell even after the 61% year-to-date drop in share price.

The drop in Peloton Interactive came on a soft day for pockets of the retail sector, including some other fitness stocks, as investors stayed focused on consumer discretionary spending trends.

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