Why Peloton Stock Jumped on Friday

·2-min read
Why Peloton Stock Jumped on Friday

The connected fitness product maker's stock was likely up because of optimism in the market for many tech stocks on Friday, as well as the continuation of a bullish trend for Peloton shares over the past month. Shares of Peloton took a severe beating earlier this year as they fell along with many other growth stocks and as a voluntary recall of the company's treadmill products spooked some investors. Indeed, Loop Capital analyst Daniel Adam said earlier this week that he believes the negative impact of Peloton's voluntary recall of its Tread and Tread+ will be short-lived.

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