How To Buy Peloton (PTON) Stock

August 29, 2024 10:27 AM PDT | By Team Kalkine Media

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During the early pandemic, Peloton was a standout stock for home workouts, peaking above $160 in late 2020. However, its stock has since fallen to levels seen before the pandemic. If you’re considering investing in Peloton again, here's a guide to help you buy the stock.

How to Buy Peloton (PTON) Stock

Choose a Broker
To buy Peloton stock, first open a brokerage account. Look for a broker with low account minimums and no trading fees. For a list of recommended online brokers and investment apps, review our top picks. Check that the broker offers the type of account you need, such as taxable investment accounts or individual retirement accounts (IRAs), as some may not offer education savings accounts like 529 plans.
Do Your Research
Thoroughly research Peloton’s operations, financial health, goals, and risks before investing. Understanding the company’s fundamentals and market position is crucial.
Determine How Much to Invest
Decide how much to invest in Peloton based on your budget and investment strategy.

Budget: After covering your bills, retirement savings, and emergency fund, allocate any remaining funds for investments.
Investment Strategy: Choose between investing a lump sum or using dollar-cost averaging, where you invest smaller amounts at regular intervals to reduce risk and average out the cost per share.
Portfolio Consideration: Ensure that investing in Peloton aligns with your overall investment portfolio and diversification strategy.

Place Your Order
Log into your brokerage account and enter Peloton’s ticker symbol (PTON) along with the number of shares or dollar amount you wish to invest. You can choose between:

Market Orders: Execute immediately at the current market price during trading hours.
Limit Orders: Execute only when the stock reaches a specified price, which can be useful if you expect price fluctuations.

Peloton trades on the Nasdaq, with primary trading hours from 9:30 a.m. to 4:00 p.m. ET, Monday through Friday. Some brokers also offer pre-market and after-hours trading.

Sell Your Peloton Stock
When it’s time to sell, log into your brokerage account, enter the number of shares or dollar amount you wish to sell, and choose between market and limit orders based on your strategy. Market orders will execute immediately at the current price, while limit orders will only execute at your specified price.

By following these steps, you can make informed decisions about investing in Peloton and manage your shares effectively.

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