Peloton Interactive (NASDAQ: PTON) went public in 2019 at $29 per share. The company's at-home exercise equipment, fitted with digital screens and streaming capabilities, proved to be incredibly popular when the COVID-19 pandemic struck in 2020.

Sales soared as lockdowns and social restrictions kicked in, and Peloton stock hit a record high of $171 in early 2021. But its incredible growth story began to fall apart that same year as the pandemic receded. Since hitting that peak, Peloton has seen its revenue fall with the company bleeding billions of dollars on the bottom line.

Seasoned executive Barry McCarthy -- who spent years in senior roles at tech giants like Netflix and Spotify -- was hired to right the ship in 2022. He was one of Peloton's greatest assets, but after a valiant effort, he stepped down from his leadership role earlier this month. Meanwhile, the stock is languishing at less than $4 per share, a whopping 98% below its all-time high. Is there any chance it can recover?

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Source Fool.com