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Here's Why I Just Sold All of My Peloton Stock

TheMotleyFool

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Here's Why I Just Sold All of My Peloton Stock: https://g.foolcdn.com/editorial/images/704241/sweating-riding-exercise-bike.jpg

Peloton Interactive (NASDAQ: PTON) thrived during the depths of the coronavirus pandemic as consumers searched for convenient exercise options while being stuck at home. The stock skyrocketed 434% in 2020 on booming customer demand and investor enthusiasm.

But things have taken a turn for the worse. Easing pandemic-related restrictions and normalizing consumer behavior have seriously hurt this consumer discretionary stock, which is down 95% from its all-time high. The revamped leadership team is trying hard to improve the situation. At this point, however, I'm not so convinced they'll succeed.

Let's take a look at three reasons why I made the decision to close my entire Peloton position.

Source Fool.com

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