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.

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Source Fool.com