Shares of Peloton (NASDAQ: PTON) jumped as much as 11.5% in early trading on Monday as investors bid up riskier stocks in the market overall. Shares had given up some of those gains and were up 4.9% at 11:45 a.m. ET.

The company's stock performance has been nothing to write home about recently, as you can see in the chart below. However, the business has been making steady steps forward in building out a more sustainable model.

In 2023, the company pivoted to an app-first subscription model, moving away from being hardware-centric. Partnerships with  and TikTok were recent steps to distribute that content to a wider audience.

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Source Fool.com