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Why Peloton Stock Popped Today

TheMotleyFool

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Shares of Peloton (NASDAQ: PTON) have popped today, up by 4% as of 2:42 p.m. EDT, after the connected fitness company announced its new Roku (NASDAQ: ROKU) channel. Roku shares also jumped following the news.

The new Peloton channel will feature thousands of workouts led by instructors and can be accessed with or without a Peloton Bike or Tread. Peloton will sell new subscriptions through the app (entitling Roku to a cut of sales), and existing subscribers can also log in to access the channel. The company will also leverage Roku's ad-targeting capabilities to boost app installs and sign-ups.

Image source: Roku.

Source Fool.com

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