Peloton stock surges more than 40% in November, toward the best monthly gain since before COVID

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Shares of Peloton Interactive Inc. PTON, +7.50% ran up 8.9% toward a fourth-straight gain and a three-month high, to put it on track for the best monthly performance since before the pandemic. The recent rally in the at-home fitness companies stock comes despite the company reporting earlier this month a much wider-than-expected loss and providing a holiday-quarter outlook that was well below forecasts. The stock has rocketed 41.8% so far this month, which would be the biggest gain since the record monthly rally of 47.6% in November 2019. The stock has also soared 70.1% amid a 16-session stretch in which it rose 14 times, and has rallied 71.9% since closing at a record low of $6.93 on Sept. 30. It was still down 66.7% year to date, while the S&P 500 SPX, +0.76% has shed 15.9%. Meanwhile, rival away-from-home fitness company stocks were also rising, with Planet Fitness Inc. PLNT, +5.18% up 16.8% so far in November, in line for the biggest monthly gain since it soared 19.6% in February 2021, and with Life Time Group Holdings Inc. LTH, +3.66% up 22.8% month to date, which would be the biggest monthly gain since it went public in October 2021.

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

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