After losing more than half of its value the Peloton stock has received a boost after Peloton Interactive Inc. ((NASDAQ: PTON)) announced yesterday that it would start selling its exercise bikes and other accessories on e-commerce giant Amazon (NASDAQ: AMZN). According to the company, the move is geared toward boosting sales in the US after a slowdown in sales from the pandemic highs.
Today’s price surge after the news has set the stock on a course towards its best price since February. The stock had fallen for the better part of this year after treadmills and exercise bikes fell out of favour once the lockdowns were over and people started returning to their gym routines.
To help stock traders eying the Peloton stock, Invezz has created a brief article on the best places to buy the stock while also an insight into its future price prediction.
To find out more, please continue reading.
Best places to buy Peloton Stock
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What is Peloton Stock?
Peloton stock is the stock of Peloton Interactive Inc. and it trades on NASDAQ under the symbol NASDAQ: PTON.
Peloton Interactive, Inc. is an American company that deals with exercise equipment and it also has a media branch. It is based in New York City.
The company’s main products include internet-connected treadmills and stationary bicycles that require users to make monthly subscriptions to access online fitness classes.
Should I buy the PTON stock today?
If you are looking to invest in a stock that is just started recovering from a long bearish trend, then the Peloton stock could be a good choice.
However, although the stock has shot up after yesterday’s announcement by the Peloton Interactive company, it is still early to determine whether the move will spur a rise in sales or things will just remain as they are.
Peloton stock price prediction
It is difficult to predict the price of Peloton stock price movement especially since the stock is coming from a long drop whose reason (reduced sales) is yet to be resolved despite yesterday’s announcement that the company would start selling on Amazaon.com.
However, in the short term, analysts anticipate that yesterday’s news could drive the stock’s price to above $14.
$PTON stock social media coverage
The post Where to buy Peloton stock after the company tapped Amazon to boost US sales appeared first on Invezz.