Peloton Shares Free Fall as Momentum for Its Products Slows

Peloton has reduced its annual sales forecast by up to $1 billion, now expecting between $4.4 billion and $4.8 billion, down from $5.4 billion. The company's holiday quarter sales also fell short of market expectations. As people return to pre-pandemic routines, demand for Peloton's exercise equipment is declining faster than anticipated. Meanwhile, Planet Fitness reports its membership levels are nearing pre-pandemic peaks, with its stock reaching an all-time high.

What did Planet Fitness report about its membership levels?

What was the market reaction to Planet Fitness's news?