Peloton Interactive Inc (NASDAQ:PTON) shares are trading lower amid overall market weakness as a rise in bond yields weighs on growth and tech stocks. Recent promising COVID-19 therapeutic data from Merck has also helped alleviate some Delta variant concerns, which could pressure ‘stay-at-home’ stocks.
The 10-year Treasury yield hit an intraday high of 1.508% Monday morning before dipping to around the 1.496% level. The spike in the 10-year note Monday comes after the Federal Reserve in September spoke on winding down its ongoing asset purchasing program.
Peloton operates an interactive fitness platform. Peloton’s connected fitness product revenue consists of sales of bike and tread and related accessories, associated fees for delivery and installation and extended warranty agreements.
Peloton has a 52-week high of $171.09 and a 52-week low of $80.48.
