Following an exceptionally high volume of people tuning in to this week's live workout class online, Peloton Interactive's (NASDAQ:PTON) stock is up more than 5% in end of the week trading today. The company is powering ahead as people look for a way to stay trim, fit, and healthy while the COVID-19 pandemic keeps brick-and-mortar gyms shuttered and lockdown orders remain in place across the nation.
Working to provide viable solutions for those seeking to stretch their muscles, Peloton launched its brand-new Live From Home cycling class at 10 a.m. EDT Wednesday, April 22. The debut class, which featured head instructor Robin Arzón, drew a turnout of more than 23,000 people, according to a company spokesperson.
Peloton counted those users who participated in the live class for at least 10 minutes or longer in the 23,000. The company says this makes "it the largest live workout count of any class ever, beating the previous record of 19,000 riders." On that occasion, Arzón also presided, leading the 2019 Turkey Burn cycling event held twice on Thanksgiving.
The fitness company is avoiding coronavirus risks by streaming classes from instructors' homes rather than the live studio streaming it used before the outbreak. Last week, Peloton's stocks made significant gains following a buy rating from Roth Capital analysts. Its online workout subscription service had already been winning it major market gains before COVID-19 arrived on the scene, providing subscribers the ability to compete against other fitness-seekers, along with other benefits.