Shares of Peloton Interactive (NASDAQ: PTON) were trading as high as $171 at the beginning of 2021, but they now trade for under $10. A few years ago, Peloton was experiencing surging demand for its connected fitness products, but the company's business has turned upside down as people return to their pre-pandemic routines.

The biggest problem for the company is not weakening demand but worsening profitability. Peloton reported a massive $2.8 billion in net losses on just $3.6 billion in revenue for fiscal 2022 (ended in June). 

However, you're probably reading this, because you sense a potential opportunity to buy the stock cheap before the company turns itself around. After all, Peloton still has a solid brand and a new CEO who previously helped guide Netflix through its first decade of growth as chief financial officer. 

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Source Fool.com