Shares of Peloton jumped by a staggering 11.38% to $160.82 at 13:24 EST on Tuesday, after five consecutive sessions in a row of gains. The Nasdaq Stock Market is jumping 0.16% to $12,762.70, after two consecutive sessions in a row of losses. This seems, up until now, a somewhat positive trend trading session today.
Peloton’s last close was $144.39, 3.36% under its 52-week high of $166.23.
News about Peloton today
Stocks making the biggest moves in the premarket: Peloton, sportsman’s warehouse, fubotv & more. According to today’s article on CNBC, “Peloton shares jumped 9% in premarket trading.”, “Peloton (PTON) – Peloton is acquiring rival fitness equipment maker Precor for $420 million, in a deal that will give it more market share as well as increased manufacturing capacity. ”
Peloton buying Precor makes for a smoother ride. According to today’s article on Bloomberg Quint, “Precor might just be the workhorse thatelevates Peloton fromfad spin brand to fitness juggernaut.”, “At the same time thatPeloton Interactive Inc. is racingto keep up with explosive demand fueled by thepandemic, the maker of stationary bikes istrying to ensure that new coronavirus vaccines won’t also soon eradicate its growth.”
Peloton spins to ‘born in the U.S.A.’. According to today’s article on The Wall Street Journal, “Peloton said on Monday it entered into an agreement to buy major fitness-equipment manufacturer Precor Inc. for $420 million in cash. “, “In its news release, Peloton said it expects to leverage Precor’s relationships with hotels, multifamily residences and college and corporate campuses to make its own technology more prevalent. ”
The company’s growth estimates for the ongoing quarter and the next is 140% and 115%, respectively.
Year-on-year quarterly revenue growth grew by 232.4%, now sitting on 2.36B for the twelve trailing months.
Peloton’s Stock Yearly Top and Bottom Value
Peloton’s stock is valued at $160.82 at 13:24 EST, below its 52-week high of $166.23 and way above its 52-week low of $17.70.
Peloton’s Moving Average
Peloton’s worth is way above its 50-day moving average of $115.23 and way higher than its 200-day moving average of $88.73.
Previous days news about Peloton
Peloton makes biggest purchase with $420 million Precor deal. According to Bloomberg Quint on Mon Dec 21, “Through the deal, Peloton will gain 625,000 square feet (58,000 square meters) of manufacturing capacity in Whitsett, North Carolina, and Woodinville, Washington. “, “The deal will also bring about 100 Precor research-and-development engineers to Peloton. ”
Peloton to buy fitness equipment maker precor in $420 million deal. According to MarketWatch on Mon Dec 21, “Peloton stock shot up more than 7% in after-hours trading Monday following the announcement of the merger agreement.”, “S.consumers, Peloton will be able to deliver connected fitness products to members sooner,” the company stated in its news release.”
Peloton will spend $420 million to acquire Precor, known for making fitness equipment found in hotels, health clubs, and university gyms. According to Business Insider on Mon Dec 21, “”By combining our talented and committed R&D and Supply Chain teams with the incredibly capable Precor team and their decades of experience, we believe we will be able to lead the global connected fitness market in both innovation and scale,” Peloton president William Lynch said in a release.”, “The deal is Peloton’s largest to date, according to Bloomberg.”