The new date is August 25, 2022.
After reporting a sixth consecutive quarter of losses, the at- home fitness company's shares tanked 20% on Thursday.
The investors sold their shares after the company warned of more challenges.
The fitness company took a $1.2 billion loss in the most recent quarter and its stock fell 20% to under $11 per share.
On Tuesday, the stock jumped more than 20% after it was announced that Amazon would sell its exercise bikes.
According to Refinitiv data, the company's revenue came in at $679 million, down from $937 million a year ago and short of the $718 million expected by analysts.
The at- home fitness company's disappointing quarterly earnings fell well short of Wall Street forecasts as sales continued to decline and losses widened, with Peloton warning that its business could continue to struggle
The company that ended the quarter with nearly 3 million connected fitness subscriptions is expecting the number to stay the same in the current quarter.
Barry McCarthy, who took the top job in February, said in a shareholder letter that there has been "steady progress" with efforts to turn the business around.
McCarthy wrote to the shareholders that the naysayers would see a melting pot of declining revenue, negative gross margin, and deeper operating losses. Significant progress is driving our comeback.
As people were stuck at home during the H1N1 epidemic, the stock of Peloton doubled in a year. The shares fell over 75% as sales slowed with customers returning to the gym. The company has been trying to turn around its business with strategic initiatives and cost-cuts under CEO Barry McCarthy. With the broader market selloff, investors have stopped buying high-growth tech companies. The stock darlings of the time, like Teladoc, have lost more than 60 percent of their value.
Cash flow and earnings numbers are moving in the right direction but not as quickly as investors hoped. Despite some progress, the bar is low, which is a negative for the stock.
The shares of Peloton skyrocketed after the company launched sales on Amazon.
The CEO of the company is thinly capitalized, according toForbes.
The stock fell after the earnings miss.
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