A Bull Market Is Coming: Could Peloton Stock Supercharge Your Portfolio?
It's an extremely rare occurrence for the stock market to have two consecutive years of negative returns. In fact, the last time this happened was roughly 20 years ago during the dot-com bust. This bodes well for the S&P 500 and the Nasdaq Composite to make a bull run this year. Both are up so far in 2023.
If investors start to adopt a risk-on sentiment this year, a company like Peloton Interactive (NASDAQ: PTON) could soar. With shares already up 31% in 2023, this consumer discretionary stock might just be able to supercharge your portfolio. But there are lots of challenges.
Many readers are already familiar with Peloton's fall from grace. The previous leadership team, led by co-founder and then CEO John Foley, essentially overinvested in the company's manufacturing and distribution capabilities, hoping that the pandemic-fueled demand would be a permanent occurrence. When this wasn't the case, Peloton's losses skyrocketed, and its survival as a stand-alone company was in question.
Source Fool.com
