Was Jim Cramer’s Call Right on These 10 Stocks?

4. Peloton Interactive, Inc. (NASDAQ:PTON)

Number of Hedge Fund Holders: 49

Peloton Interactive, Inc. (NASDAQ:PTON), the connected fitness company, was mentioned as a failed COVID-era favorite. Cramer reflected on how overconfidence in subscriber retention back then led to heavy losses for investors:

“[talking about short sellers during Covid] many people who tried this game lost fortunes. They thought there was no way Peloton was going to lose all those subscribers, right? Oops wrong! Who knows if this one will ever come back?”

Peloton Interactive, Inc. (NASDAQ:PTON) has soared 81.10% since being mentioned, defying the doubts about its recovery potential.

However, Cramer has changed his stance on the stock recently, acknowledging its turnaround. Here’s what he said on the 14^th of March:

“[On Cannacord going to buy] The fitness trend is good. Remember the fatness trend is battling with the fitness trend. But I would say that Peloton, Spotify, Netflix, Costco, subscription businesses. Subscription businesses are king. And Peloton’s a subscription business. Well done.

“Peloton seems like it’s got churn down. And I like that. That was a very good call. I thought the call was very good. Remember, I’m totally in this camp which just says, younger people want to workout.”