Thndr Claps » U.S. Claps » Mergers & Acquisitions 🤝 » Peloton Shares Soar on Report of Potential Buyers📈
Peloton Interactive (NASDAQ: PTON) saw its share price soar after drawing interest from potential buyers such as Amazon (NASDAQ: AMZN) & Nike (NYSE: NKE).
More on Peloton🚲 Peloton is an exercise equipment & media company, with products such as bicycles that enable subscribers to remotely participate in classes via streaming media.
Shares of Peloton skyrocketed during the pandemic as people were forced to find new ways to exercise at home, then plummeted once the economy gradually returned back to normal.
More Details🧐 Amazon is reportedly exploring an offer & is in talks with advisors on how to approach the deal.
While Nike is in the very early stages of evaluating a deal for Peloton, according to the Financial Times.
Peloton, on the other hand, is undecided on whether it will explore a sale or not.
Why is this Important🤔 Peloton recently halted production of its bikes & treadmills amid a drop in demand.
Peloton currently has a market capitalization of around $8 billion, down from a peak of over $47 billion in December of 2020.
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