Why Peloton Interactive Stock Jumped on Friday
Shares of Peloton Interactive (NASDAQ: PTON) were up 5.9% as of 10:37 a.m. EDT on Friday after the company introduced its new branded apparel line on its website.
Decelerating growth, the recall of its treadmills earlier this year, and the decision to lower prices on its connected-fitness products and raise marketing spending has given investors pause in recent months. But with Peloton's shares down about 25% year to date, bargain hunters are naturally going to pounce on any piece of good news that could turn into a growth catalyst.
Here's what to know about Peloton's apparel strategy.
Source Fool.com
