Will Beyoncé Do for Peloton What Michael Jordan Did for Nike?
The past five quarters as a publicly traded company have been great ones for Peloton (NASDAQ: PTON). The connected fitness company's initial public offering (IPO) debuted in September 2019 to great fanfare after years of high growth prior to going public. With the COVID-19 pandemic forcing many exercise enthusiasts to find saver alternatives to crowded fitness centers, Peloton's stock has surged even higher in the past nine months and has gained in price roughly 251% year to date.
Last week, management announced a partnership with singer Beyoncé that it hopes will enhance the musical experience for the users of the company's fitness products. That should be a treat for the users, but what does this do for Peloton?
Peloton, which sells video-enabled exercise equipment and monthly subscriptions to live video exercise classes, has seen phenomenal growth over the past year, growth that was helped by the spreading pandemic.
Source Fool.com