This asset and the whole market are probably overvalued but IF you are a Peloton bull and PTON doesn't go under, then this is a good an opportunity as ever after losing over 30% overnight. Could be terminating a third corrective move (wave C) of a bull flag forming since January and its down 70% from ATH. The bottom of the uptrend channel forming since being listed has not been formed but given the direction of important trendlines, this could be the area where the lower boundary is formed.