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All Blue Capital explains its $85M bet Peloton after losing $30M

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An investment firm tells us why it just poured $85 million into Peloton — despite losing $30 million on a prior bet

All Blue Capital lost $30 million on an earlier investment after Peloton's stock tanked 86%.All Blue Capital has lost $30 million on Pelotonbut the London-based investment firm is strong in its conviction that the company could mount a comeback.

"The brand name is incredibly appealing and as long as you can utilize that brand name you can unfold additional revenue streams," Novak said, adding that he sees the valuation swing as part of the market's rejection of other so-called"stay at home stocks," rather than a problem with Peloton in particular.

All Blue first invested in Peloton when it was a private company and sold most of its holdings soon after the IPO in September 2019, according to Novak. The IPO raised $1.2 billion for Peloton and valued the company at $8.1 billion.

 

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