Peloton missed an opportunity to offer IPO shares to users. It's a company that emphasizes "community" - its Facebook page engagement, for example, is insane — and owning a few shares could have engendered a sense of ownership for the purpose of further protecting against churn (at least on the outermost margins).
-- Dan Primack, Axios
Feel-good IPO stories have been rare in 2019, so this is a bad miss for Peloton. They would have owned the new cycle, this week. Peloton opened the day at $29 and closed 11% lower, at $25.76.