Why Momentum Advisors CIO Expects Peloton's Stock To 'Rebound Substantially'

At its current price, Peloton Interactive Inc PTON offers huge upside potential for investors, Momentum Advisors CIO Allan Boomer said Tuesday on CNBC's "The Exchange."

Peloton stock sold off this year after the recall of its Tread product, but also because some think people will abandon their at-home workouts, Boomer told CNBC. 

Following the COVID-19 pandemic, Boomer expects to see a hybrid lifestyle in which many of the at-home trends remain in place.

Peloton offers a great value because of its cult following, he noted, adding that "the people who use Peloton are just addicted to it."

Boomer told CNBC that he expects the stock to "rebound substantially."

Price Action: Peloton traded as high as $171.09 and as low as $40.77 over a 52-week period. 

Peloton shares closed 1.29% lower at $108.89 on Tuesday.

See Also: Peloton Analysts Bullish After Earnings Beat: 'Recalls Not As Bad As Feared'

Photo courtesy of Peloton.