Peloton Is Down 70% This Year: Time to Buy the Dip?
2021 has been a great year for investors overall with the S&P 500 index up over 20% year to date. However, that hasn't been the case for shareholders of Peloton Interactive (NASDAQ: PTON). After rising a monstrous 500% from the start of the COVID-19 pandemic, the stock is down a whopping 70% year to date after reporting disappointing earnings and giving out unsatisfying guidance for its current fiscal year.
Peloton's business is definitely in worse shape than it was at the start of 2021. But with the stock trading at a steep discount, is now a good time to buy the dip on a pandemic favorite? Let's take a look.
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Source Fool.com