Stock Alert: Peloton Interactive Shares Reach New 52-Week High

(RTTNews) - Shares of Peloton Interactive Inc. (PTON) rose over 15% Tuesday morning to a new 52-week high of $165.57, with trading volume of 9.85 million more versus an average volume of 18.7 million shares. PTON is currently trading at $165.14, up $20.75 or 14.37%.

Peloton, on Monday, said it agreed to acquire Precor, a global commercial fitness equipment provider, in a transaction valued at US$420 million. With the acquisition, Peloton plans to establish U.S. manufacturing capacity, boost research and development capabilities with Precor's highly-skilled team, and accelerate Peloton's penetration of the commercial market. Peloton noted that it plans to produce connected fitness products in the U.S. before the end of the calendar year 2021.