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. 

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Source Fool.com