Alibaba Group (NYSE: BABA) and Peloton Interactive (NASDAQ: PTON) have both frustrated plenty of investors over the past few years. Alibaba's stock hit its all-time high in October 2020 as the bulls embraced the Chinese e-commerce and cloud leader, but it subsequently sank more than 75% as it faced fierce macro, regulatory, and competitive headwinds.

Peloton's stock closed at its record high in January 2021 as its sales of connected bikes and subscriptions accelerated throughout the pandemic. But it then shed roughly 97% of its value as its growth stalled out amid broad economic reopening. Could either of these beaten-down stocks be a worthwhile turnaround play for patient investors?

Image source: Peloton.

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Source Fool.com