PTON Stock Alert: Peloton Surges in Private Equity Interest

Peloton (NASDAQ:PTON) stock is getting a boost Tuesday after the fitness company reportedly attracted the attention of private equity firms interested in buying it.

According to recent reports, Peloton has been in talks with at least one private equity firm about an acquisition. It’s unclear how far these discussions have progressed or how serious the company is about acquiring the company.

According to the reports, many other companies have expressed interest in acquiring Peloton. However, it doesn’t look like any of them have yet contacted the company to arrange a deal to privatize it.

The source of these reports remains anonymous due to the nature of the discussions. The person also claims that a deal may not happen. When CNBC When asked about the reports, Peloton said it “does not comment on speculation or rumors.”

How this affects PTON stock

News of a possible deal to take PTON private caused shares to trade heavily on Tuesday. As of this writing, more than 30 million units have changed hands. That’s nearly three times the company’s average daily trading volume of about 12 million shares.

Investors’ interest in a PTON share takeover makes sense. The company has now reported losses for 13 consecutive quarters. That would make any kind of premium offered by take-private offerings attractive to investors.

PTON stock is up 11.3% since Tuesday morning. The stock has fallen 32.3% since the beginning of the year.

Investors can find more current stock market stories below!

On Tuesday we have the latest stock market news for you! Below that is what has shares Palantir (NASDAQ:PLTR), Rivian (NASDAQ:RIVN) And AgriFORCE is growing (NASDAQ:AGRI) Stock movement today. All news can be found under the following links!

More stock market news from Tuesday

At the time of publication, William White did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.