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ElliptiGo Inc. Chief Executive Bryan Pate didn’t have enough of his outdoor elliptical bikes to sell when demand surged in 2020. Today he has a San Diego warehouse packed with too many bicycles that not enough people want.
“We were like a surfer who did not catch the wave,” said Mr. Pate, whose bikes start at roughly $1,500. “It’s an all-hands-on-deck battle to break even for the next 18 months.”
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