Why Peloton Interactive Is Falling Today

Shares of Peloton Interactive (NASDAQ: PTON) were falling 7% in midday trading Friday, as the broader market dropped 2% in the second consecutive day of decline.

Peloton cycled 12% higher in August as Wall Street reconsidered whether it was underestimating the high-end connected fitness leader's growth potential. The coronavirus pandemic spurred a major growth trend in at-home fitness, and Peloton was one of the major beneficiaries.

With the market swinging lower in September, investors may be taking some profits. The stock has nearly tripled in value in 2020 and has more than quadrupled from the lows it set back in March.

Source Fool.com