Peloton Basks in Celebrity Love While at Bottom of Nasdaq 100
- Peloton shares are down 26% in 2021 after quintupling in 2020
- Nearly 90% of Wall Street analysts recommend buying the stock
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In the often-snarky jargon of cyclists, Peloton Interactive Inc. has gone from the lead to the lanterne rouge.
The maker of technology-infused stationary bikes and treadmills has gone from a top position on the Nasdaq 100 Stock Index in 2020 to last place this year with a decline of 26%. Wall Street analysts, however, aren’t ready to jump off the bike just yet. In fact, Peloton has a higher percentage of buy ratings than just about every stay-at-home stock that’s been pummeled as the world begins to emerge from confinement.