Peloton Is Down 92% From Its High. Time to Buy?
Peloton Interactive (NASDAQ: PTON), once one of the hottest stocks on Wall Street, is seeing some renewed optimism as the leadership team tries to turn things around. While the hypergrowth that shareholders saw during the depths of the coronavirus pandemic seems like ancient history today, Peloton is making progress at stabilizing its cost structure while trying to spur demand. And I think this is all that shareholders can ask for at this moment.
Despite soaring 74% already in 2023 (as of this writing), shares of Peloton are still down 92% from their all-time high set in January 2021. Is it time for investors to buy the stock? Let's take a closer look.
In its latest reported period (the second quarter of fiscal 2023, ended Dec. 31), the fitness innovator posted revenue of $792.7 million and a net loss of $335.4 million. That top-line figure was better than Wall Street analysts had hoped, and it's largely why the stock surged more than 25% following the announcement.
Source Fool.com
