Why Peloton's Stock Is Trading Higher Today
Peloton Interactive Inc (NASDAQ:PTON) shares are trading higher as investor concerns of a second wave of the coronavirus increases amid partial reopenings in the U.S. An increase in cases may cause states to tighten restrictions again and Peloton benefitted as an at-home gym alternative during the stay-at-home orders.
As states inched their way towards reopening gyms, coronavirus cases began to spike again which could potentially delay the reopening of fitness centers across the country and keep Peloton's demand steady.
Peloton Interactive Inc operates an interactive fitness platform. It operates its business in three reportable segments: Connected Fitness Products, Subscription, and Other. The company generates the majority of the revenue from the sale of Connected Fitness Products.
Peloton was trading 6.11% higher at $49.98 at time of publication on Monday. The stock has a 52-week high of $51 and a 52-week low of $17.70.
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