Shares of Peloton Interactive Inc. (PTON) dropped 4.0% in premarket trading Thursday, putting them on track for a sixth-straight loss, amid concerns that the at-home fitness company could face competition from Apple Inc. (AAPL)Bloomberg reported ( ), citing people with knowledge of the effort, that Apple was developing a new subscription for virtual fitness classes, which would rival the virtual classes offered by Peloton and Nike Inc. (NKE) Shares of Nike slipped 0.2% ahead of the open, while Apple's stock gained 0.4%. Peloton shares have more than doubled (up 126.6%) year to date through Wednesday, while Apple 's stock has rallied 53.9% and the Dow Jones Industrial Average has slipped 2.0%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 13, 2020 07:51 ET (11:51 GMT)
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