The pandemic has altered our lives in ways we could not have imagined before. Vast numbers of businesses have been forced to go digital, and telecommuting is now a norm for many salaried workers. Exercise, too, has also shifted away from gyms and into the home, and Peloton (NASDAQ: PTON) has been a prime beneficiary of that trend. Its membership base and fitness subscriptions have soared since COVID-19 appeared.
The stock price of the exercise bike and treadmill company rose rapidly after it went public in September 2019 at $29 a share. And while it has lost ground since peaking in January at above $167, its current price in the neighborhood of $96 is still more than triple where it began trading.
For those not sure what's special about Peloton's equipment, they come with embedded screens that allow exercisers to join live and recorded fitness classes, providing a simulation of a gym environment. Customers who sign up for the company's connected fitness subscriptions can enjoy guided workouts in the comfort of their own homes.
Source Fool.com