PTON will be bought. But no one wants to rush in and pay the premium price the market demands. It is also hard to negotiate with the guy who holds the super shares to control its fate.
I'd like to see PTON continues to drop. Then pressure is on the former CEO to give up control of the company. He won't get the premium price he desires. I do not think PTON is worth $35 now. Not sure how much it is worth. But the longer they wait, the less value the company is worth. Sales people and employees can flee. Job market is hot. But PTON is cold that they let go of 2,500 employees. That is really bad. Do not know how market considers firing employee is a good thing. Traders are nuts and dumb.