Don't Buy Peloton Stock on Buyout Rumors

The connected-fitness company doesn't have a real strategy to turn things around.The Peloton Interactive (PTON -16.37%) delivery vans that became a common sight at the height of the pandemic are now far less prevalent, as demand for the company's pricey connected-fitness equipment plunges.Its post-pandemic turnaround effort, led by former CEO Barry McCarthy, failed to reignite demand or successfully pivot the company to subscriptions. McCarthy stepped down earlier this month, leaving the company rudderless. ...