The Peloton Interactive (NASDAQ: PTON) delivery vans that became a common sight at the height of the pandemic are now far less prevalent, as demand for the company's pricey connected-fitness equipment plunges.

Its post-pandemic turnaround effort, led by former CEO Barry McCarthy, failed to reignite demand or successfully pivot the company to subscriptions. McCarthy stepped down earlier this month, leaving the company rudderless.

There were plenty of reasons to stay far away from Peloton stock in 2021 when the first cracks in the story were appearing. McCarthy slashed costs and grew the subscription business after taking the helm, but the brand never recovered.

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Source Fool.com