Peloton (NASDAQ:PTON) stock is on the rise Thursday as investors celebrate a new partnership between the fitness company and TikTok.
This partnership has Peloton setting up a hub on TikTok allowing for easy access to content from it. It also covers content made by creators, partners, celebrities and more. This will be easy to track with the new #TikTokFitness hashtag.
A press release notes that this will mark the first time that Peloton is posting content outside of its own channels. The company is doing so in hopes of reaching the more than 1 billion people who actively use TikTok.
Peloton Vice President of Consumer Marketing Oli Snoddy said the following about the TikTok collaboration:
“We collectively recognize the way people engage with fitness is constantly changing. Our team is excited to complement TikTok’s already burgeoning fitness content by introducing the magic of Peloton to new audiences, and in completely new ways.”
What This Means for PTON Stock
Investors in Peloton are celebrating today’s announcement and that has shares of PTON stock rising 6.2% higher on Thursday morning. The real question is how this will affect the stock in the long run.
It’s possible that PTON will benefit from this TikTok hub. TikTok does have a large audience and the company may benefit from posting short-form content there as compared to the longer classes on its own platform.
Investors who want to know more about all of the latest stock market stories are in the right place!
We have all of the hottest stock market news that traders need to know about on Thursday. Among that is what’s going on with shares of Evotec (NASDAQ:EVO), Sellas Life Sciences (NASDAQ:SLS) and Omega Therapeutics (NASDAQ:OMGA) stock today. You can catch up on all of these matters at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
