Can TikTok Do for Peloton What It Did for Novo Nordisk and Ozempic?
Peloton Interactive (NASDAQ: PTON) needs a growth catalyst badly. The company's bikes were hot buys during the early stages of the pandemic amid lockdowns when people couldn't go to gyms to exercise. But as things have returned to normal, demand has stalled. Revenue is going in the wrong direction, and the business is nowhere near profitable.
Enter TikTok. The social media platform is partnering with Peloton in a move that the bike maker hopes will help give its sales a much-needed boost. And given how helpful TikTok has been in helping Novo Nordisk's diabetes drug Ozempic rise in popularity, investors may be hopeful that the social media platform can have a similar positive effect on Peloton's business as well.
There will now be a dedicated hub on TikTok, #TikTokFitness Powered by Peloton, where people can access Peloton content, which will include live classes and celebrity collaborations. This goes hand in hand with the company working on trying to get more people using its app, where it sells monthly subscriptions that can help people create custom workouts.
Source Fool.com
Peloton Interactive Inc. Stock
Currently there is a rather positive sentiment for Peloton Interactive Inc. with 10 Buy predictions and 3 Sell predictions.
With a target price of 7 € there is potential for a 111.42% increase which would mean more than doubling the current price of 3.31 € for Peloton Interactive Inc..
