Peloton (PTON) stock has more than tripled since May, when it plunged below $3 to record lows. The stock is now up 65% YTD, and is outperforming the broader markets. PTON’s 2024 price action is a welcome break for investors, who have only seen the shares go downhill since early 2021.
At its peak, Peloton was valued in excess of $50 billion. However, like many so-called “stay-at-home” companies, its fortunes nosedived, and PTON briefly became a penny stock in 2023. Peloton once again joined the penny stock category in 2024, but has staged a smart recovery from those lows. In this article, we’ll discuss why PTON stock has rallied, and whether it makes sense to sell the shares here after the spike.
