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Saturday, November 23, 2024

Home Business Peloton shares jump on reports of possible Amazon deal

Peloton shares jump on reports of possible Amazon deal

by News desk
February 6, 2022
in Business

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

Shortly before 8:00 pm (0100 GMT), Peloton shares surged 26.42 percent, to $31.10.

Several American media reported on Amazon’s interest in Peloton, which has struggled to maintain growth amid easing Covid-19 restrictions.

“Amazon has been speaking to advisers about a potential deal,” the Wall Street Journal reported Friday, citing sources. It added, however that “there’s no guarantee the e-commerce giant will follow through with an offer or that Peloton.—AFP