After skyrocketing 550% from its initial public offering price in September 2019 to its all-time high in January 2021, Peloton's (NASDAQ: PTON) stock has come crashing down. As of this writing, shares are down 93% from their peak. And as a result, some risk-seeking investors might view this as a good time to get aggressive and buy the stock at a huge discount. 

Without a doubt, Peloton is going through a huge restructuring plan, changes that are being orchestrated by CEO Barry McCarthy. While it's always scary investing in these types of situations, if Peloton can become even a tiny bit of the thriving enterprise that it was during the depths of the pandemic, shares could rise substantially in the not-too-distant future. But to be clear, that's a big "if." 

With that being said, is it finally time to buy Peloton stock? Let's take a closer look at the facts. 

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Source Fool.com