PTON - Better Buy: Carvana vs. Peloton
2023-04-21 09:45:00 ET
There is a very large market for used cars. And there is a very large market for fitness equipment. But that isn't enough to make either Carvana (NYSE: CVNA) or Peloton Interactive (NASDAQ: PTON) successful companies. In fact, right now, there's a very real question about whether they can survive as companies at all. Here's what you need to know about these two once-hot stocks.
Carvana and Peloton were both perfectly situated to benefit from the coronavirus pandemic. When people were asked to practice social distancing and to work from home, buying a car completely online and working out "together" from home via an internet-connected exercise bike were hot ideas. Not only did customers like them, but investors really liked them. In 2020, the stock of used car dealer Carvana soared 160% while exercise equipment maker Peloton saw its shares rocket over 430%.
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Better Buy: Carvana vs. Peloton