Peloton Interactive Inc (NASDAQ:PTON) shares are trading lower by 8.3% at $27.25 in sympathy with the overall market amid a rise in Treasury yields along with anticipation of Fed tapering. The weakness could also possibly be attributed to profit taking after the stock rallied approximately 21% over the past 2 trading sessions.
Despite another volatile trading session on Monday, Peloton shares found themselves higher. Strength was attributed to activist investor Blackwells Capital sent a letter to the Peloton Board of Directors, calling for new leadership and initiation of strategic alternatives.
Peloton operates an interactive fitness platform. The company generates the majority of the revenue from the sale of Connected Fitness products.
Peloton has a 52-week high of $166.57 and a 52-week low of $23.25.
