Peloton is back in the news, but not because of another fictional heart attack. This time, it's because the company's stock is surging amid takeover rumors, reports CNBC. Shares were up more than 25% in trading Monday after multiple reports—including in the Wall Street Journal and London's Financial Times—cited potential suitors including Amazon, Nike, and Apple. None of the companies are confirming the reports about ongoing talks. The Journal notes that Peloton is attractive because of the booming health-tech field, and gaining access to its many users and their data might be attractive to Amazon and others. However, not all analysts are sold on the idea.
"Although Peloton’s star was propelled during COVID, it’s become increasingly clear it’s a much smaller (still impressive) business than prior perception," wrote BMO Capital Markets analyst Simeon Siegel, per MarketWatch. "As such, one has to ask whether the brand is simply too small to make a difference to the world’s largest companies." CNBC points out another factor: CEO John Foley could likely torpedo any deal he doesn't like, and one analyst quoted says Foley's current view is that Peloton has more long-term potential as a stand-alone company. (More Peloton stories.)
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