Peloton stock shoots more than 30% higher after report of Amazon acquisition interest

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Peloton Interactive Inc. PTON, +1.44% shares jumped more than 35% in after-hours trading Friday after a report that potential acquirers including Amazon.com Inc. AMZN, +13.54% are sizing up the exercise equipment maker. The Wall Street Journal reported Friday afternoon, citing “people familiar with the matter,” that Amazon had hired advisers to discuss a potential deal for Peloton, which has seen a pandemic boom in sales dissipate and take its stock price down with it. No other potential acquirers were named, but the report suggested there were others. An activist investor wants Peloton’s board to fire its chief executive and sell the company, which the Journal also first reported. Peloton’s stock closed at $24.60 Friday, lower than the $29 price charged in its 2019 initial public offering, but shares surged easily past $30 in after-hours trading following the report.

This article was originally published by Marketwatch.com. Read the original article here.

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