Once upon a time, Peloton Interactive (NASDAQ: PTON) was a hot ticket. Millions of people were stuck at home during the lockdowns of the coronavirus pandemic, so Peloton's home gym equipment was flying off the shelves. Annual sales soared from $1.8 billion in 2019 to $2.0 billion in 2022. At its peak, Peloton's stock was worth $167 per share with a market cap of $49.3 billion.

But the company started to fall apart as soon as the pandemic faded out and people returned to the gym. More traditional fitness companies such as Planet Fitness (NYSE: PLNT) and Life Time Group (NYSE: LTH) more than doubled their trailing sales in the last three years while Peloton's revenue fell by one-third instead:

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Source Fool.com