{"id":403888,"date":"2022-02-05T13:19:00","date_gmt":"2022-02-05T10:19:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/peloton-shares-jump-on-reports-of-possible-amazon-deal\/"},"modified":"2022-02-05T13:19:00","modified_gmt":"2022-02-05T10:19:00","slug":"peloton-shares-jump-on-reports-of-possible-amazon-deal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/peloton-shares-jump-on-reports-of-possible-amazon-deal\/","title":{"rendered":"#Peloton shares jump on reports of possible Amazon deal"},"content":{"rendered":"

“#Peloton shares jump on reports of possible Amazon deal<\/strong>”<\/p>\n

\n Shares in at-home fitness company Peloton jumped Friday evening in extended trading on Wall Street amid reports of the company’s potential takeover by e-commerce giant Amazon.<\/p>\n

Shortly before 8:00 pm (0100 GMT), Peloton shares surged 26.42 percent, to $31.10.<\/p>\n

Several American media<\/a> reported on Amazon’s interest in Peloton, which has struggled to maintain growth amid easing COVID-19 restrictions.<\/p>\n

“Amazon has been speaking to advisers about a potential deal,” the Wall Street Journal reported Friday, citing sources.<\/p>\n

It added, however that “there’s no guarantee the e-commerce giant will follow through with an offer or that Peloton, which is working with its own advisers, would be receptive.”<\/p>\n

There are other potential buyers, the business news<\/a>paper said, but no deal is imminent.<\/p>\n

“Should there be a transaction, it could be significant, given Peloton’s market value of around $8 billion\u2014down sharply from its high around a year ago of some $50 billion,” the Journal reported.<\/p>\n

Peloton has been the target of an activist investor, Blackwells Capital, who is pushing for CEO John Foley to be fired and for the company to be sold.<\/p>\n

It benefited significantly from the pandemic restrictions of 2020 as gyms closed and people began to exercise at home.<\/p>\n

But the company has struggled to adjust to easing COVID restrictions. Its shares fell more than 75 percent last year and almost 25 percent since January.\n <\/p>\n\n

\n

Netflix sinks as Wall Street flees ‘stay-at-home’ stocks\n <\/p><\/div>\n

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\n \u00a9 2022 AFP<\/p>\n

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Citation<\/strong>:
\n Peloton shares jump on reports of possible Amazon deal (2022, February 5)
\n retrieved 5 February 2022
\n from https:\/\/techxplore.com\/news\/2022-02-peloton-amazon.html<\/p>\n

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\n part may be reproduced without the written permission. The content is provided for information purposes only.<\/p><\/div>\n<\/p><\/div>\n