What happened Shares of Peloton Interactive (NASDAQ: PTON) are falling today, down 4.8% as of 12:20 p.m. EDT, following last week's moves that pushed the stock to record highs. Investors may be taking some profits off the table. So what The connected fitness leader reported a blowout second quarter last Thursday despite the complications caused by the coronavirus pandemic, with promises of more growth to come as it introduces new, lower-cost at-home fitness equipment. Image source: Peloton Interactive. Peloton's stock has tripled in value this year as lockdown orders due to the COVID-19 outbreak made working out at home a necessity. Now what While Peloton continues to see tailwinds from the pandemic that should continue for the rest of the year at least, with shares up over 320% in just the last six months, it's likely a lot of that anticipation for further gains has already been baked into the stock. Pullbacks like today's modest retreat are to be expected even if Peloton's shares do continue to rise. Yet it trades at lofty valuations on numerous metrics, including Wall Street's estimates for next year's earnings, sales, book value, and free cash flow. A big drop in the stock would not be all that surprising, and may be welcomed by investors who've wanted to buy in but felt the price was just too rich. 10 stocks we like better than Peloton InteractiveWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Peloton Interactive wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Peloton Interactive. The Motley Fool has a disclosure policy.Source