Move Over, Peloton: 16.5 Million Reasons to Buy This Fitness Stock Instead
Peloton Interactive (NASDAQ: PTON) just announced another terrible quarter to close out its 2022 fiscal year.
The maker of innovative exercise equipment, a darling on Wall Street during the depths of the coronavirus pandemic in 2020, reported a year-over-year revenue decline of 28%, as well as a massive net loss of $1.2 billion, in its fiscal 2022 fourth quarter. The stock fell 18% on the day of the financial release and is down 70% on the year.
While Peloton's intense struggles continue as management tries to implement a turnaround plan, a rival business is back to hitting its stride. Here's why Planet Fitness (NYSE: PLNT), whose shares have climbed more than 200% over the past five years, might be the best fitness stock to buy right now.
Source Fool.com
