By 
By Dhirendra Tripathi
Investing.com – Peloton Interactive stock (NASDAQ:PTON) surged 23% in premarket trading Monday on reports that Amazon (NASDAQ:AMZN) and Nike (NYSE:NKE) are both interested in buying the troubled company.
Amazon is exploring an offer for Peloton and is speaking with advisers about whether and how to proceed, a Reuters report said Friday. The same day, a report by the Financial Times added Nike to the list of those interested in the maker of fitness equipment.
The reports come amid turbulence at the company that has seen it lose as much as 84% from its high last year, when it was valued at $50 billion. Peloton was among the biggest winners of the pandemic when at-home people used its equipment to keep fit. As the economy reopened, those people returned to gyms and going outdoors. Sales of its treadmills and bikes fell. It swung to a net loss three quarters ago and its loss has widened in each subsequent quarter since then.
The company cut some product prices but that has blurred the image it initially pushed of being a maker of high-end items. Catering to a mass market remains a work-in-progress. The company has also announced plans to cut costs, and according to a Bloomberg report, isn’t ruling out job cuts.
Meanwhile, activist investor Blackwells Capital is pushing for changes at Peloton, including the replacement of CEO John Foley. The investment firm, run by Jason Aintabi, is urging Peloton to sell itself to a company like Disney (NYSE:DIS), Apple (NASDAQ:AAPL), Sony (NYSE:SONY) or Nike (NYSE:NKE), according to a separate report by Reuters.
Peloton Soars on Reports That Amazon, Nike Are Exploring Bids
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