Peloton Interactive, Inc. (NASDAQ:PTON) shares sank further into negative terrain on Tuesday after it reported disappointing first-quarter results and issued weak guidance.
Further Downside Limited: TFI Securities analyst Ming-Chi Kuo is optimistic that a turnaround could be in the cards.
The analyst noted that Peloton shares have declined nearly 50% since April 7, when he tweeted that the company cut all component orders for 2022. A further downside could be limited, the analyst said.
