Why Peloton Stock Briefly Jumped to All-Time Highs This Morning
Shares of Peloton (NASDAQ: PTON) jumped by as much as 8% this morning to reach fresh all-time highs ahead of the company's fiscal fourth-quarter earnings release after the market closes today. As of 12:30 p.m. EDT, the stock had given up all of those gains and was down 2%.
Stay-at-home stocks continue to command premium valuations from investors and related companies have been reporting strong quarterly results driven by COVID-19's impacts on consumer behavior. Investors are hoping that Peloton will report an earnings beat as more people exercise from home during the pandemic.
Image source: Peloton.
Source Fool.com
