RTTNews | Nov 16, 2021 10:47AM EST

10:46 Tuesday, November 16, 2021 (RTTNews.com) - Peloton Interactive Inc. (PTON) shares jumped 6% in the early trading hours on Tuesday after the company announced a share sell-off worth $1 billion. The stock had been suffering since the company slashed its full-year outlook by almost $1 billion in the first-quarter reports earlier this month.

Following the report, the stock plummeted to the lowest in 15 months, losing 66% year-to-date. The company offered $1 billion worth of Class A common stock where the underwriters will get another 30 days to buy an additional $150 million worth of shares.

The stock is currently trading at $50.26, up $2.76 or 5.82% from the previous close at $47.49. The stock opened at $50.09 in the morning. In the 52-week period, the shares have ranged between $46.70 and $171.09.

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