Benzinga | Nov 16, 2021 03:24PM EST

Why Peloton Shares Are Rising

Shares of several companies in the retail space, including Peloton Interactive Inc (NASDAQ:PTON) are trading higher following stronger-than-expected October retail sales.

Also, Peloton on Monday announced the pricing of an underwritten public offering of 23,913,043 shares of its Class A common stock at a public offering price of $46 per share.

Peloton intends to use the net proceeds from the offering for general corporate purposes, which over time may include working capital, capital expenditures, including for the construction or expansion of facilities and investments in and acquisitions of other companies, products, or technologies that the company may identify in the future.

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Peloton has a 52-week high of $171.09 and a 52-week low of $46.70.