Shares of Peloton Interactive (NASDAQ: PTON) stumbled on Monday after the company's new CEO quashed the idea the connected fitness equipment maker would be sold anytime soon. Telling The Financial Times he was moving from California to New York to helm the company, former Netflix and Spotify Technology executive Barry McCarthy said, "There are lots of other things I could be doing with my time that are quite lucrative than hanging out with a business that's about to be sold." Despite there not being any evidence those companies have even thought of a buyout, the market sent Peloton's stock soaring 36% higher last week. Read More...
Motley Fool
Why Tesla Stock Raced Ahead on Monday
Busting out of a two-day losing streak, shares of Tesla (NASDAQ: TSLA) were up 3.1% as of 10:55 a.m. ET Monday in response to a bullish note from investment bank Piper Sandler. As StreetInsider.com relates this morning, Piper Sandler decided to give Tesla some love this Valentine’s Day, reiterating its buy rating on the stock and raising its price target to $1,350 — implying that new buyers can expect to see as much as a 55% gain on the electric car company’s shares this year. Updating its valuation to account for new “forecast … deliveries, capex, and margins,” Piper says it expects Tesla to generate more cash going forward, such that the stock is now worth more on a discounted cash flow-based model.
Add Comment