On Wednesday, Peloton released its second earnings report since going public in September. Pelton's stock has dropped 16% in the two days following the release of the report. This decrease could be explained by the Efficient Market Hypothesis. In this podcast episode, I talk about Peloton's controversial holiday ad that might have led to a decrease in sales, as well as how Peloton is positioning itself as a tech company to fight off copycat competitors like Flywheel.