Peloton Interactive Inc (NASDAQ:PTON) shares are trading higher by 30.6% at $32.12 Monday morning following a report from the Wall Street Journal suggesting the company has drawn interest from potential suitors including Amazon.com, Inc. (NASDAQ:AMZN) about a potential acquisition.
The WSJ report states Amazon has been speaking to advisers about a potential deal, some of the people familar with the matter said. The Friday report goes on to state there’s no guarantee the e-commerce giant will follow through with an offer or that Peloton, which is working with its own advisers, would be receptive.
Peloton shares, which were a stay-at-home, pandemic favorite for many traders and investors, have fallen 71% since November 4th alone.
Among the recent woes of Peloton was a January 20th CNBC report titled ‘Peloton to halt production of its Bikes, treadmills as demand wanes.’ The next day, Peloton shares rebounded after Peloton reported preliminary second-quarter results, the CEO issued a note to investors and several firms maintained bullish ratings on the stock.
Peloton Interactive Inc operates an interactive fitness platform. It operates its business in two reportable segments: Connected Fitness Products and Subscription.
Peloton has a 52-week high of $155.52 and a 52-week low of $22.81.
