A Bull Market Is Coming: 3 Reasons to Buy Peloton Stock
Perhaps nothing is as startling as Peloton Interactive's (NASDAQ: PTON) monumental rise than its dramatic plunge. The fitness innovator has seriously fallen out of favor following a ridiculous demand surge during the worst of the coronavirus pandemic. As of this writing, shares are trading 96% below their all-time high from about two and a half years ago, reflecting investors' deep pessimism.
More recently, Peloton's latest financial results for its fiscal 2023 third quarter (ended March 31) were a mixed bag. Losses were worse than analysts expected, but revenue was better than anticipated. The business is still seemingly a long way from sustainable profitability as it continues executing its turnaround strategy.
To be clear, buying Peloton's stock today looks like a high-risk, high-reward move because there is a lot of uncertainty. But if there is a bull market on the horizon, investors will wish they owned shares. Here are three reasons why.
Source Fool.com
Peloton Interactive Inc. Stock
Currently there is a rather negative sentiment for Peloton Interactive Inc. with 9 Buy predictions and 16 Sell predictions..
A potential of -44.9%, resulting from comparing the current price of 3.63 € with the target price of 2 € for Peloton Interactive Inc., shows the chance of incurring significant losses.
