After the Recent Sell-Off, Is Peloton Still Unstoppable?
After closing at an all-time high of $167.42 two months ago, Peloton Interactive (NASDAQ: PTON) stock has since plummeted nearly 40%. The gradual reopening of the economy is weighing heavily on investors' minds, and rightfully so.
But Peloton was growing like wildfire before lockdowns and social distancing became the norm, hinting at what the future could look like for the company as people spend less time in their homes and venture back out to eat, socialize, and exercise. The outlook for Peloton is certainly not without its challenges, however, so let's find out if the stock is indeed a bargain following the significant decline in its share price.
A true Wall Street darling, Peloton stock flew out of the gate after its IPO. Its market capitalization surged from $7 billion in Sept. 2019 to a whopping $49 billion in Jan. 2021. That's quite an impressive run, but increased vaccination rollouts are on their way to bringing about a return to "normal" lifestyles.
Source Fool.com
