Cycling to nowhere

These days it is amazing what Wall Street hustle can produce. Today a stationary cycle company called Peloton (meaning a group of cyclists in a race) hit the stock market in debut trading and attained a valuation (or market cap) of $7.5B ...

Put that in perspective it is 20% the market cap of Ford Motor company. Imagine that.

For little over a million people who own this so called stationary bike the confusing world of valuations believes that they are worth a fifth the value of Ford Motor that has been moving people all over the world for the past 100+ years.

Dang. Henry what were you (not) thinking back then?

LOL.

The world today is made of whatever pipe dream you can sell to consumers of all kinds. Whether it is to those that are vain and will pay up for any trick that promises instant weight loss and a jealousy inducing gram on Insta to those salivating on the idea of making quick bucks trading anything that IPOs on the exchange.

I for one am clueless about what valuation really means and therefore remain an amused ombudsman taking in the banter on the street.

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Brown Motion

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