Peloton (NASDAQ:PTON) news for Friday concerning a staggering number of viewers for a live stream has PTON stock soaring.
The company announced that it had 23,000 members tune in to a single live stream class. That’s a new record for the company and shows that more people are taking advantage of the fitness company’s services.
That makes sense as more people are staying inside to avoid the novel coronavirus. That’s especially true as gyms remained closed in some states. However, that doesn’t mean people have to stop working out at home.
It’s worth pointing out that Peloton has also been seeing an increase in demand for its exercise bikes. The wait times are currently unusually hight, which could be a sign that the company is seeing increasing demand from customers, reports MarketsInsider.
Peloton is far from the only company that has seen positive news from the coronavirus causing people to stay at home. Nautilus (NYSE:NLS), a company that sells home workout equipment, has also seen more demand for its products amid the coronavirus.
While the coronavirus hasn’t been good for gyms, there is hope on the horizon. Reopening plans for the economy list gyms among the first locations that could reopen. That news saw Planet Fitness (NYSE:PLNT) stock take a healthy leap late last week.
PTON stock was up 6.34% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
