Is Peloton Interactive Stock a Buy?

Peloton Interactive (NASDAQ: PTON) is arguably the poster child for broken, pandemic-era growth stories. The connected exercise bike maker went public at $29 per share in Sept. 2019, but its stock opened at just $27 and dipped below $20 the following March as investors questioned the appeal of its pricey exercise bikes and subscription-based remote spin classes.

However, the pandemic subsequently lit a fire under Peloton's business as gyms closed down and more people stayed home. In fiscal 2020, which ended in June of the calendar year, Peloton's revenue doubled to $1.83 billion, its total number of connected fitness subscribers more than doubled to 1.09 million, and its total number of workouts more than tripled.

Image source: Peloton.

Source Fool.com