Stock market data

Peloton Stock Surges 18.6% on Private Equity Buyout Interest

May 7, 2024, 12:50 PM

Private equity firms are reportedly considering a buyout of Peloton, the connected fitness company, as it seeks to refinance its debt and stimulate growth following 13 consecutive quarters of losses. This interest has led to a significant surge in Peloton's stock, with an increase of approximately 18.6% prior to market opening. CNBC reports that some discussions among potential buyers are focusing on ways to reduce Peloton's operating expenses to make the buyout more appealing.