(NASDAQ: PTON) is one of the worst-performing, hyped-up stocks in recent memory. The connected fitness provider that sells exercise bikes, treadmills, and workout subscriptions is off 98% from all-time highs, meaning every $100 invested at the peak is worth just $2 today. After seeing a boom in demand during the pandemic's height, Peloton has struggled to retain subscribers, generate a profit, and manage its balance sheet.

In 2024 alone, the stock is off 42%. Is now the time to finally buy the dip on Peloton stock? Here's where the once high flyer may land at the end of 2024.

With the stock down in the dumps, it's unsurprising to see Peloton struggling to be profitable. Over the first nine months of the fiscal year ending this summer, Peloton has posted a net loss of $512 million on just $2 billion in revenue. While this is an improvement versus a loss of $1 billion over the same period in the prior fiscal year, burning $500 million is no way to run a business -- especially one that cannot grow.

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Source Fool.com