Things just seem to be getting worse for Peloton Interactive (NASDAQ: PTON). The connected fitness company's sales have plummeted, and there's been limited progress under new leadership.

Peloton stock fell after its latest earnings report, but there are still signs of life. Is there any reason to be hopeful here? Actually, yes.

Peloton fielded outsized demand for its connected fitness equipment in the early stages of the pandemic when people, even fitness enthusiasts, were stuck at home. It made a critical error in overestimating future demand and investing in new warehouses and inventory. Then, as sales slipped, Peloton dug itself deeper with acquisitions and failed partnerships.

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Source Fool.com