Peloton Stock Has Soared 256% From Its 52-Week Low. Is It Too Late to Buy?
Peloton Interactive (NASDAQ: PTON) stock was a pandemic darling. It reached a record high of $162 at the end of 2020, on the back of surging sales for the company's at-home exercise equipment, which helped fitness enthusiasts stay active in the midst of lockdowns and social restrictions.But sales plummeted once social conditions returned to normal, which sent Peloton's losses skyrocketing. On a few occasions since 2022, there were even concerns that the company wouldn't survive, prompting a management shakeup and a major shift in strategy.Some of those changes are starting to bear fruit at the bottom line, and Peloton stock has recently soared by 256% from its 52-week low. However, with a stock price of just $9.63 as of this writing, it remains 94% below its record level from 2020. Is this the start of a long-term recovery, or will the recent upside fizzle out?Continue reading
Peloton Interactive (NASDAQ: PTON) stock was a pandemic darling. It reached a record high of $162 at the end of 2020, on the back of surging sales for the company's at-home exercise equipment, which helped fitness enthusiasts stay active in the midst of lockdowns and social restrictions.
But sales plummeted once social conditions returned to normal, which sent Peloton's losses skyrocketing. On a few occasions since 2022, there were even concerns that the company wouldn't survive, prompting a management shakeup and a major shift in strategy.
Some of those changes are starting to bear fruit at the bottom line, and Peloton stock has recently soared by 256% from its 52-week low. However, with a stock price of just $9.63 as of this writing, it remains 94% below its record level from 2020. Is this the start of a long-term recovery, or will the recent upside fizzle out?
