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Peloton Soars 31% on Takeover Speculation, Testing Short Sellers

Feb. 7, 2022, 2:44 PM

Peloton Interactive Inc. soared 31% on Monday after reports that it’s exploring takeover options, a move that could test investors who are holding short positions.

The New York-based fitness and lifestlye company is working with an adviser after an earlier plunge in Peloton’s shares made it a takeover target, according to people familiar with the matter, who asked not to be identified because discussions are private. The takeover interest is exploratory and may not lead to a transaction, they said.

The stock roseto as high as $32.22 as trading got underway in New York. A 12% short position ...