Brody Longo works out on his Peloton exercise bike on April 16, 2021 in Brick, New Jersey.
Michael Loccisano | Getty Images
Shares of Peloton jumped more than 34% in extended trading Friday after the Wall Street Journal reported Amazon has approached the connected fitness company about a potential deal.
Other potential suitors are circling, the Journal reported, adding that no deal is imminent and there may not be one at all.
Representatives from Peloton and Amazon didn’t immediately respond to CNBC’s requests for comments.
The potential interest from outsiders comes as Peloton shares have tumbled in recent months and activist group Blackwells Capital has urged the company publicly to consider a sale.
Peloton’s market cap of roughly $8 billion has fallen from a high of nearly $50 billion about a year ago.
Read the full report from the Journal here.
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Source: https://www.cnbc.com/2022/02/04/peloton-stock-jumps-20percent-on-report-amazon-is-among-potential-buyers.html