Week to date, shares of Peloton Interactive (NASDAQ: PTON) were down 27% through Thursday's market close, according to data provided by S&P Global Market Intelligence. The company's progress in turning the business around has been slower than investors hoped, which has continued to weigh on the stock's performance in 2024.

The latest earnings report for the quarter ending in December showed improving profitability, but the biggest problem continues to be a lack of growth for Peloton's products, and there may not be an easy fix.

Peloton has tried a lot things to stimulate demand. Bike rentals are showing promise, but rentals are not enough to drive revenue growth at this point, as weak demand for pricey exercise equipment continues to be the main problem. As a result, total revenue declined 6% year over year last quarter.

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Source Fool.com