Why Did Peloton Just Hit a 52-Week High?

Exercise equipment and streaming exercise instruction company Peloton Interactive (NASDAQ: PTON) traded at a new 52-week high this morning, reaching $84.56 mid-morning and setting a new price record. Though its shares have declined somewhat since, Peloton is still up more than 7% today, and trading continues to be active, raising the possibility of setting a new peak sometime before market close.

The continued climb of the company's stock comes against the backdrop of its announcement this morning that it has launched a "Health and Wellness Advisory Council" consisting of five health professionals. The team includes a cardiologist, a neurologist, a neurological medical consultant, an assistant professor of applied physiology, and a clinical neurological scientist.

Image source: Getty Images.

Source Fool.com