Why Peloton Stock Popped to a New All-Time High Today
Shares of Peloton Interactive (NASDAQ: PTON) rose 7% to a new closing high of $123.02 on Friday, as investors continue to pile into the home-based fitness leader's stock.
Analysts have anointed Peloton as a preeminent stay-at-home stock in recent weeks, and its shares have surged 44% in just the last month following its blockbuster fourth-quarter financial report. Peloton's revenue exploded 172% higher to $607.1 million, driven by strong sales of its stationary bikes and treadmills. Due to the coronavirus pandemic, more people are choosing to exercise in the comfort and safety of their own homes.
Peloton's home-based exercise equipment is in high demand during the COVID-19 crisis. Image source: Peloton.
Source Fool.com
