Sumary of Why Peloton Interactive Stock Is Up 9% So Far This Week:
- What happened Shares of Peloton Interactive (NASDAQ:PTON) were up nearly 9% so far this week as of market close on Thursday.
- Hot on the heels of the video game announcement came the introduction of Peloton Corporate Wellness, a new program under which it will partner with companies to offer subsidized access to the Peloton App, membership plans, and exclusive benefits for those with Peloton equipment.
- Early corporate sign-ups include Wayfair (NYSE:W), Samsung, and SAP (NYSE:SAP).
- Additionally, healthcare insurance giant UnitedHealth Group (NYSE:UNH) said it will offer up to 12 months of access to the Peloton App or up to four months of all-access membership for select members.
- As a reminder, the company reported year-over-year revenue growth of 141% to $1.26 billion during its fiscal 2021 third quarter, which ended March 31. The company saw a huge bump in activity due to the pandemic, but it’s clearly building on its strengths to expand its network of fitness subscribers.