Why Peloton's Stock Is Trading Higher Today

Peloton Interactive PTON shares are trading higher on Tuesday, after the company announced it has surpassed 1 million aggregated connected fitness subscribers.

Earlier this month, Peloton raised its guidance and says it sees fiscal year 2020 sales at $1.72-$1.74 billion versus the $1.56 billion estimate. The company sees 1.04-1.05 million ending connected fitness subscribers

Peloton is an exercise equipment and media company that was founded in 2012 and launched with help from a Kickstarter funding campaign in 2013.

Peloton shares were trading up 10.61% at $47.34 on Tuesday. The stock has a 52-week high of $47.62 and a 52-week low of $17.70.

Posted In: why it's movingNewsMoversTrading Ideas