Wednesday’s Headlines: Is Peloton Becoming The Fitness King?

Wednesday’s Headlines: Is Peloton Becoming The Fitness King?

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Peloton Interactive (PTON) +3.5%

Zoom Communications (ZM) +3.4% (BILL) +2.4%

Netflix (NFLX) +2.3%

FactSet (FDS) +1.9%

Moving Down ⬇️

Baozun (BZUN) -8.3%

Tripadvisor (TRIP) -8.0%

Nordstrom (JWN) -7.7%

GoPro (GPRO) -7.2%

Eventbrite (EB) -6.2%

1. They might make some questionable advertisement choices, but Peloton’s (PTON) acquisition game has never been stronger. According to a Bloomberg report yesterday, Peloton has pulled out the checkbook to purchase Aiqudo, an AI-powered digital voice assistant; Atlas Wearables, a smartwatch maker; and Otari, a company that makes an interactive workout mat with its own screen. In total, the three deals cost ‘just’ $78.1 million in cash and could go a long way in helping Peloton to fend off growing competition from the likes of Apple (AAPL) and Lululemon (LULU). Read the full Bloomberg article here.

2. CEO Elon Musk’s announcement that you can now purchase a Tesla (TSLA) using Bitcoin wasn’t enough to mask yet another potential company liability. Having suffered a recent string of vehicle recalls and currently under investigation for both its ‘Autopilot’ feature and a fire at a Tesla Solar facility, Consumer Reports magazine is now raising concerns about its in-car video recording capabilities. The feature could represent a privacy risk, as has been highlighted in China, where Tesla vehicles have just been banned from being owned by government personnel or from entering military complexes. The problems are piling up for Tesla and need immediate addressing. Read more here.

3. Not even the whole GameStop (GME) debacle from January can stop Robinhood’s plans as it confidentially files for an IPO. The trading platform filed its S-1 with the Securities and Exchange Commission (SEC) on Tuesday), highlighting plans to go public on the Nasdaq exchange within the next few months. The company’s zero-commission model has made it a favorite among retail traders, but it stirred up controversy with its decision in January to restrict trading in “meme stocks” such as GameStop and AMC, resulting in chief executive Vlad Tenev appearing on Capitol Hill to answer to U.S. lawmakers. Read the complete story here.