Peloton Interactive (NASDAQ: PTON) shares ended 2022 down 78% as its downward spiral continued. Since the start of this year, however, the stock is up a whopping 40% (as of this writing). Maybe investor sentiment is finally turning positive on this troubled business?

Not so fast. The most astute investors are aware of a major issue with this former Wall Street darling. Here's what you need to know about Peloton as we look toward the rest of 2023. It will likely leave you hesitant to be a buyer of the stock right now. 

Peloton's sales and subscriber numbers surged as a result of the coronavirus pandemic, when working out at home was the de facto choice for most consumers. But as the pandemic's influence has waned, the business has reported three straight quarters of year-over-year revenue declines greater than 20%, the most recent being the fiscal 2023 first quarter (ended Sept. 30).

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Source Fool.com