Peloton shares rise as exercise equipment sales boom on Black Friday
Peloton Interactive (NASDAQ:PTON) shares surged on Monday after Adobe Analytics data indicated the company likely enjoyed solid sales on Black Friday.
Exercise equipment was a popular item on shopping lists for the holiday sales weekend, according to Adobe Analytics. The data indicates sales of the category rose over 200% from the prior year, suggesting Peloton’s significant discounts drove increased sales.
The company continues to promote sales on Cyber Monday alongside Amazon, offering hundreds of dollars off on the original Peloton bike and hawking ancillary Peloton products on the platform as well. Peloton bikes were previously a top-seller during Amazon’s fall Prime event when the discount offered was $100 less than the Black Friday/Cyber Monday pricing.
Shares of Peloton Interactive (PTON) rose over 8% shortly after the market open before moderating gains to around 3% in the proceeding hours.
Read more on broader Black Friday sales trends.