SSRM - Peter Schiff Highlights Pandemic Darling Stock's 98.5% Decline To Make A Point About Mispriced Gold Mining Stocks: 'Same Situation Exists Today' | Benzinga
Renowned economist and gold advocate Peter Schiff used the drastic plunge in Peloton Interactive Inc (NASDAQ:PTON) stock to illustrate his theory on the mispricing of gold mining stocks.
What Happened: Schiff highlights the staggering 98.5% decline in Peloton’s stock, which reached a record low of $2.70. He emphasized how this situation mirrors the current state of gold mining stocks, but in reverse.
“#Peloton stock is down another 13% today, hitting another record low of $2.70. During the pandemic shares traded as high as $171. That’s a decline of 98.5%. This shows how badly stocks can be mispriced. The same situation exists today with #gold mining stocks, only in reverse,” Schiff wrote on X.