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Why Peloton Stock Pedaled 11% Higher Tuesday

TheMotleyFool

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Why Peloton Stock Pedaled 11% Higher Tuesday

Peloton Interactive (NASDAQ: PTON), the largest interactive fitness platform in the world, jumped as much as 11% higher Tuesday after the company hit a subscriber milestone.

While much of the economy and activity as we know it has slowed to a near standstill, Peloton has thrived as people stuck at home are looking for ways to exercise and stay active. Stay-at-home orders helped drive Peloton to a subscriber milestone: The company announced it surpassed 1 million connected fitness subscribers. In fact, while many stocks have plunged two and three times as far as the S&P 500, Peloton is unique in terms of its performance over the past three months.