Philip Miller Posted May 7, 2020 Share Posted May 7, 2020 I'm looking at the quotes today and I'm wondering why did the Peloton stock suddenly explode higher? Quote Link to comment Share on other sites More sharing options...
0 AskTraders Support Posted May 7, 2020 Share Posted May 7, 2020 Hi the reason is because so many people are buying exercise bikes - also check Halfords, they stocks surged as they are selling so many outdoor bikes as thousands are buying a bike for work Quote Link to comment Share on other sites More sharing options...
0 James Byrnes Posted May 8, 2020 Share Posted May 8, 2020 Hi Philip, thanks for the question. Indeed, the Peloton stock price made an incredible move yesterday, moving higher around 16% on the day. This move came after the company reported an increase in revenue of 66% on a greater demand for the in-house fitness equipment amid the COVID-19 outbreak and national lockdowns. Following the release of quarterly earnings, investors rushed to buy Peloton stock given that the company’s management raised its full-year sales guidance, which is a stock-supportive development. Quote Link to comment Share on other sites More sharing options...
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Philip Miller
I'm looking at the quotes today and I'm wondering why did the Peloton stock suddenly explode higher?
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