The peloton share rises more than 30% after announcement of Amazon’s acquisition interest
Peloton Interactive Inc. PTON,
shares jumped more than 35% in after-trading Friday after a report that potential buyers including Amazon.com Inc. AMZN,
dimensions up the training equipment manufacturer. The Wall Street Journal reported Friday afternoon, citing “people familiar with the matter,”[ads1]; that Amazon had hired advisers to discuss a potential deal for the Peloton, which has seen a pandemic boom in sales disappear and bring the stock price down by seg. No other potential buyers were named, but the report indicated that there were others. An activist investor wants Peloton’s board to fire its CEO and sell the company, something Journal also first reported. Peloton’s stock closed at $ 24.60 on Friday, lower than the $ 29 price charged in the 2019 IPO, but the stock rose slightly above $ 30 in after-hours trading after the report.
