Peloton's Epic Comeback 🚴‍♂️

Early Bird Prime for November 10, 2024

Once upon a time, Peloton Interactive (Nasdaq: PTON) was the darling of the stock market, riding high on the wave of pandemic-induced home workouts. But then Peloton took a tumble. Since its peak in 2021, the stock has plummeted over 94%.

As the world emerged from lockdowns and gyms flung open their doors, Peloton's at-home fitness equipment suddenly seemed as appealing as a treadmill in a swimming pool. Demand nosedived, and the company reported losses and liabilities. To add insult to injury, some of their products were recalled, proving that even stationary bikes can have a bumpy ride.

But just when it seemed like Peloton was destined for the corporate scrapyard, 2024 rolled around with a surprising twist. Like a phoenix rising from the ashes—or perhaps a cyclist getting back on the saddle after a particularly embarrassing fall—Peloton's stock has started to climb. The stock is up 88.56% in the last 30 days.

This week, Peloton received a much-needed boost when Bank of America analysts decided to give it a little love. They upgraded the stock from "Underperform" to "Buy" and raised the price target from $3.75 to $9. The analysts cited Peloton's recent strong financial results and a new CEO.

However, before you rush to invest in Peloton, it's worth noting that the company has never consistently turned a profit. Plus, its market cap has been shrinking.

So, should you invest in Peloton now in 2024, or should you avoid this stock? Well, here’s the answer:

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