Has Peloton Stock Hit Bottom?
After Peloton Interactive's (NASDAQ: PTON) share price recently sunk to a low of $22.81, the stock has rebounded sharply to the high 30s. While there have been reports that Amazon and Nike could be exploring an acquisition offer for the company, investors appear to have a lot of confidence in management's new plan to put Peloton on a more solid financial footing with regards to profitability.
These are good signs the stock has bottomed. Still, investors shouldn't get too excited just yet. Here's what to expect from the cost-reduction plan and why upside for the stock from these levels might be limited in the near term.
Image source: Peloton Interactive.
Source Fool.com
