Peloton Interactive (NASDAQ: PTON) is probably best known for its exercise bikes. But that business isn't actually the company's focus today because, well, it didn't turn out to be as profitable as hoped. The stock has cratered as a result and now the company is in the middle of a major business overhaul with still very uncertain results ahead.

If you like contrarian investing, you'd be better off with another company currently facing challenges -- and that's actually proven its ability to survive hard times: Hormel Foods (NYSE: HRL).

Peloton started life making digitally connected exercise bikes, quickly spreading out to other exercise equipment. At its core, the exercise equipment market is already pretty mature and saturated. What set Peloton apart was its ability to digitally connect its users into group classes.

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Source Fool.com