Peloton Stock Moves Higher on Black Friday Performance (NASDAQ: PTON)
Peloton interactions (NASDAQ:PTON) surged on Monday after Adobe Analytics data showed the company was likely to hit steady sales on Black Friday.
According to Adobe Analytics, exercise equipment is a popular item on shopping lists for the weekend sale. The The data showed that sales of this category were up more than 200% year-over-year, indicating that Peloton’s significant price cuts boosted sales.
The company continued to drive Cyber Monday sales alongside Amazon, offering hundreds of dollars off the original Peloton bike and selling Peloton ancillary products on the platform. The Peloton bike was formerly a Best seller during Amazon’s Fall Prime event when Offered discount $100 less than Black Friday/Cyber Monday price.
Shares of Peloton Interactive (PTON) rallied more than 8% shortly after the market open before easing the gain slightly to around 3% in the following hours.
Read more about broader Black Friday sales trends.