Here's Why Peloton Stock Popped Today
Shares of connected fitness equipment company Peloton (NASDAQ: PTON) jumped Tuesday morning, a day after the company announced its first foray into the world of gaming. As of 11:50 a.m. EDT, Peloton shares were up 5.6%.
Yesterday, Peloton announced it is working to launch an interactive game called Lanebreak, which the company calls "an experience that sits at the intersection of gaming and fitness." With investors valuing the company at a price-to-sales ratio of more than 10 on a trailing-12-month basis, expectations are for Peloton to continue to expand its current subscriber base. Yesterday's announcement that it is testing an iteration of a new format combining biking and gaming is the type of new growth catalyst that investors seem to be hoping for.
Source Fool.com
