Peloton Shares Up 25% on Rumors of Acquisition Following the CEO's Departure Announcement
<p><a href='https://financialmodelingprep.com/financial-summary/PTON'>Peloton Interactive, Inc. (NASDAQ:PTON) </a>shares closed more than 25% higher on Tuesday following the company’s founder and CEO John Foley’s decision to step down from the company. The reason for the significant share price increase today is that many investors believe the company will be soon acquired by a strategic player, including Apple, Amazon, and Nike.</p>
<p>Analysts at Wedbush provided their comments following the announcement, stating that Foley has been the pioneer and visionary of Peloton over the last decade and him leaving paints a bleak picture with the main pilot no longer in charge.</p>
<p>Wedbush analysts also believe the CEO’s departure makes the acquisition scenario much more likely, expecting the company to make a major decision soon about whether it wants to go alone ahead or be sold. In case it decides to be sold, the analysts believe the most likely acquirer will be Apple due to the clear strategic fit with its healthcare/fitness/ subscription.</p>

NASDAQ:PTON