Peloton Just Hit Another Speed Bump. Should Investors Buy, Sell, or Hold the Stock?
Shares of Peloton Interactive (NASDAQ: PTON) have sent investors on a roller coaster ride since it listed publicly in September 2019 at $29. When the pandemic struck six months later, social restrictions sent demand soaring for the company's at-home exercise equipment and virtual fitness classes.
Its stock subsequently exploded to an all-time high of $162.72. But with life mostly back to normal now, Peloton's sales have slumped, and the stock now trades 91% below that mark at just $13.63 -- which means investors in its initial public offering (IPO) are also underwater.
But Peloton now has a brand-new CEO, Barry McCarthy, and a new operating strategy that is already yielding results. The road ahead, however, is filled with challenges, and the company just suffered a setback in a long-standing legal battle over its video-streaming technology.
Source Fool.com
