• Triton

Market reaction to Peloton

In this morning's Smart Beta Insights post for ETF Trends, Ben Hernandez discussed the poor first-day trading performance of Peloton, as well as the cancelled IPO of talent agency Endeavor, with Triton's Rett Wallace and Robert Herjavec of Herjavec Group. "'The difference between Peloton and Endeavor is Peloton got done at the high end of the range, raised $1.2 billion and is worth $11 billion,' said Rett Wallace of Triton Research. 'WeWork and Endeavor said we’ll do this later, you know, or not at all. The window, I think, is going to be more influenced by the inventory. Since Lyft, what we’ve seen is like nine really traditional software companies go public — Data Dog, Ping Identity, just the most recent ones — doing great, but the misfit toys, you know, the Ubers, Lyfts, Fiverrs having more trouble. … It seems like the market sort of confined Peloton to the misfit toys a little bit yesterday.'" Full article on ETF Trend - HERE