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Why Peloton Investors Are Smiling Today

·2 min read
Why Peloton Investors Are Smiling Today
In this article:
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Yesterday, as you recall, shares of exercise bicycle maker Peloton Interactive (NASDAQ: PTON) sold off hard on media reports of a planned production shutdown, ultimately ending the day 24% lower than they began it. After close of trading, however, Peloton had some modestly positive news to report -- an earnings preannouncement -- and today, that news is helping Peloton to evade the continuing stock market meltdown and even bounce back a bit. As of 10:10 a.m. ET, Peloton stock is up 3.8%.