PTON - Peloton's Shakeup Continues but This Tiny Stock Doubled Early Tuesday
Most investors seemed to enjoy Monday's move higher for the stock market, and Wall Street came in Tuesday morning with hopes that a late-summer rally could continue. Yet higher inflation than expected put cold water on thoughts that signs of weakening price pressures could take away one source of concern as the consumer economy moves into the key holiday season. Futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) , S&P 500 (SNPINDEX: ^GSPC) , and Nasdaq Composite (NASDAQINDEX: ^IXIC) had all risen around three-quarters of a percent right before the inflation data came out at 8:30 a.m. ET. Immediately after the announcement, though, futures fell 1.5% to 2.5%.
One stock hitting the news Tuesday morning is Peloton Interactive (NASDAQ: PTON) , as the hard-hit interactive fitness equipment maker saw another internal shakeup that shows just how seriously the company is taking the difficult conditions it faces. Meanwhile, though, one little-known stock saw its share price more than double in premarket trading following encouraging news on its latest clinical trial. Read on to find out more about Peloton as well as the latest from tiny biotech innovator Akero Therapeutics (NASDAQ: AKRO) .
Shares of Peloton Interactive moved higher by about 1% on Tuesday morning, following a 7% gain on Monday. After the end of the regular trading session yesterday, the company confirmed reports that had surfaced earlier in the session concerning the future direction of the business.
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Peloton's Shakeup Continues, but This Tiny Stock Doubled Early Tuesday