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Barchart

Mohit Oberoi

Could This Small-Cap Penny Stock Become an Acquisition Target?

Peloton PTON Barry McCarthy Amazon.com Inc. Apple

Peloton (PTON), which was a $50 billion market cap company at its peak in early 2021, is now a small-cap name with a market cap of just over $1.5 billion. It's also a penny stock, and trades below the $5 threshold. The shares of the connected fitness equipment company fell to a record low of $2.70 last week after its fiscal Q3 2024 earnings report.

Peloton also announced a leadership transition, and Barry McCarthy – the former Netflix (NFLX) and Spotify (SPOT) executive who took over as CEO from cofounder John Foley in February 2022 - stepped down.

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