Why Peloton Stock Is Up 36% in May After Jumping 19% in April
Shares of interactive exercise-machine specialist Peloton Interactive (NASDAQ: PTON) are up 35.9% in May through Monday, May 11. This performance follows the stock's 18.6% rise last month, according to data from S&P Global Market Intelligence.
By comparison, the S&P 500 index has returned just under 1% so far this month, and returned 12.8% in April. Last month's strong market performance was largely a bounce back from March's coronavirus-driven sell-off that sank the index (including dividends) 12.4%.
Since its September 2019 initial public offering (IPO) at $29 per share, Peloton stock is up more than 47%, as of May 11. Unlike many businesses, Peloton has been getting a boost from the COVID-19 pandemic, which has shuttered gyms and kept people home-bound under shelter-in-place orders.
Source Fool.com
