What happened

Shares of Peloton Interactive (NASDAQ:PTON) climbed on Monday even as rising coronavirus cases led stock markets around the world to sell off. As of 1:36 p.m. EDT today, Peloton's stock was up more than 5%.

So what

As coronavirus cases surge in several European nations, government officials are reportedly considering new measures to slow the spread of the disease. London Mayor Sadiq Khan, for one, is considering another lockdown.  

A person is pointing to an upwardly sloping line that's above a downwardly sloping line.

Peloton's stock rose sharply on Monday even as many other stocks fell. Image source: Getty Images.

Concerned that new coronavirus-related restrictions could slow the global economic recovery, investors bailed out of many cyclical stocks on Monday. But as they sold off the shares of economically sensitive companies, they bid up Peloton's stock. The maker of home fitness equipment could see stronger demand for its internet-connected exercise bikes and treadmills if more people decide to work out in the safety of their own homes rather than risk getting sick in crowded gyms.

Now what 

Peloton recently debuted a new, lower-priced treadmill geared toward bringing even more people into its swelling customer ranks. It also unveiled a more feature-rich version of its exercise bike that offers a total-body workout.

Thanks in part to these new product launches -- as well as a coronavirus-related acceleration in the at-home fitness trend -- CEO John Foley believes Peloton's subscriber base could eventually top 100 million, up from 1.1 million today. 

With such a staggering growth opportunity before it, Peloton could continue to deliver handsome gains to investors in the years ahead.

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