Why Peloton Shares Are Soaring After Hours

Peloton Interactive Inc PTON is soaring nearly 30% in Friday's after-hours session following a report from the Wall Street Journal that e-commerce giant Amazon.com Inc AMZN has approached the connected fitness company about a potential acquisition.

The report suggests Peloton may be seeing offers from other companies as well. 

The company is "drawing interest from potential suitors including Amazon," according to the report, citing people familiar with the matter. 

See Also: Should Apple, Nike Or Google Acquire Peloton In 2022?

PTON Price Action: Peloton has traded as low as $22.81 and as high as $157.83 over a 52-week period. 

The stock was up 29.4% at $31.83 in after hours Friday afternoon. 

Photo: courtesy of Peloton.