The Peloton analyst who called the stock’s crash is still not a buyer

Revenue cut: A Peloton fitness equipment is on display at the groundbreaking of the company’s first US factory in Luckey, Ohio. The majority of analyst downgrades this year were prompted by Peloton’s disappointing quarterly results in November. — AP

PELOTON Interactive Inc was a Wall Street darling a year ago, with analysts almost universally recommending buying the home-fitness company’s shares after they had soared 434% in 2020.

BMO Capital Markets’ Simeon Siegel was the first bear to predict the stock’s subsequent crash, and he says the pain isn’t over.