Buy This High-Growth Stock When Its Price Plummets
The COVID-19 pandemic has significantly altered daily routines, spurring people to learn, work, and exercise from home. The resulting reliance on at-home fitness equipment has made Peloton Interactive (NASDAQ: PTON) one of the leaders of the at-home fitness industry, helping its stock price surge more than 270% year to date. Those gains suffered when news of multiple promising COVID-19 vaccines led investors to dump the stock. But Peloton's long-term competitive advantages have nothing to do with the pandemic, suggesting that savvy investors may be able to benefit from the market's overreaction.
Image source: Peloton.
Peloton's high-end product line has created a very strong brand presence in the industry. Its stationary bikes and treadmills are equipped with high-resolution connected screens that allow users to participate remotely in a real-time group workout from the comfort of their own homes.
Source Fool.com
