Why Peloton Interactive Is Jumping Today
Shares of Peloton Interactive (NASDAQ: PTON) were running 5.8% higher in morning trading Thursday after iFIT, the owner of rival fitness equipment maker NordicTrack, said it was delaying its initial public offering due to "adverse market conditions."
iFIT Health & Fitness had planned to debut on the Nasdaq Stock Market under the ticker symbol IFIT at price ranging between $18 and $21 per share, but said the uncertainty in the markets would have it evaluate whether to go public at some future time.
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Source Fool.com
