Shares of Peloton Interactive (NASDAQ: PTON) climbed 5.4% on Friday, as investors rotated back into stay-at-home stocks.
Following tremendously positive news from Pfizer and Moderna on the coronavirus vaccine front, many investors reacted by selling off shares of companies that have performed well during the pandemic. This included Peloton, which saw its stock price skyrocket by more than 360% by mid-October, as sales of its home-based fitness equipment soared following gym closures.
Peloton's stock rose sharply on Friday. Image source: Peloton.
Source Fool.com