Why Peloton Stock Jumped 24% This Week
Investors gave Peloton Interactive (NASDAQ: PTON) a huge boost early this week after the company announced a new partnership with Hilton Worldwide Holdings (NYSE: HLT): By the end of the year, there will be at least one Peloton bike in every Hilton-branded hotel -- all 5,400 of them.
Investors were understandably excited about the deal, and bid Peloton's stock up by 24.3% over the past week, according to data provided by S&P Global Market Intelligence. Those gains came in spite of the recent news that the connected-fitness company is laying off more employees.
Image source: Peloton.
Source Fool.com
