Peloton Jumps in Price on Monday and Tesla Shares Took A Hit
Peloton shares up on news that the company plans to acquire the exercise equipment manufacturer Precor for $240 million. The goal of the acquisition is to speed up production and hit delivery targets on the head without delay.
Peloton would be set to acquire Precors more than 625,000 square feet of manufacturing space, indicated in the deal. It’s expected to be completed early 2021 and Peloton shares closed the trading day up over 8%.
Tesla is finally in the big leagues. At Monday’s open, Tesla became a constituent at Market Open with a 1.69% weighting in the index, making it the fifth largest.
People didn’t respond with a huge cheer with Tesla shares closing down over around 6%. The losses extended themselves throughout the day after Apple reported the plans of production for its new self-driving car.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.