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| Economy |
| Peloton shares soar 12% to an all-time high after announcing it will crank up its manufacturing capacity by acquiring fitness equipment company Precor for $420M |
| 2020-12-23 |
| [MAIL] Peloton shares rose by 12 per cent and hit an all-time high on Tuesday, hours after it announced it is cranking up its manufacturing capacity by acquiring fitness equipment provider Precor. The maker of the popular high-end stationary bikes and accompanying monthly subscriptions said late Monday it will spend $420million to acquire Precor, a company whose fitness machines populate hundreds of commercial and hotel gyms. The acquisition, Peloton's biggest to date, gives the company its first manufacturing capacity in the US, its biggest market, during a global pandemic that has people cancelling gym memberships and seeking ways to stay fit in the safety of their own homes. |
| Posted by:Besoeker |