In the lockdown, the company experienced a hype. After that, however, things went downhill sharply.
(Photo: dpa)
new York According to a newspaper, several corporations are interested in taking over the fitness equipment manufacturer. Among them is Amazon, reports the “Wall Street Journal”, citing people familiar with the matter. A statement from Peloton and Amazon was initially not available.
The report gave the fitness equipment specialist a strong boost on the financial market late on Friday. The share rose by around 40 percent in the after-hours trading. According to the report, these are initially just considerations. Amazon spoke to consultants about a possible offer. It is still unclear whether the group will really submit this.
In view of the sharp drop in prices that Peloton has experienced on the stock exchange in recent months, there are also other interested parties. But a takeover is not imminent at the moment.
Peloton was initially a great success story with its training bikes during the corona crisis. But that boom ended abruptly after most of the pandemic restrictions were lifted. The US company had to drastically cut its sales targets – despite significant price reductions. Investors took flight and let the stock fall by almost 56 percent in the past three months.
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According to media reports, an activist investor wants to replace the boss and consider selling the company to a larger technology or fitness group.
More: Peloton CEO Foley goes from fitness star to crisis manager