Peloton (PTON) and Lululemon (LULU) are entering into a five-year partnership that would make the companies each others' exclusive apparel and content providers. What kind of value can Peloton — a "pandemic darling" stock — bring to the table for designer athleisure brand Lululemon, and vice versa? Yahoo Finance’s Brian Sozzi and Brad Smith attempt to answer these questions, breaking down the stock action around the two stocks following yesterday's announcement. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Peloton shares soared after Peloton announced a partnership with Lululemon; here's what you need to know.
(Bloomberg) -- Peloton Interactive Inc. shares rose as much as 11% Thursday after the company agreed to a deal with Lululemon Athletica Inc. to tap its online workouts and team up on apparel. Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Biden Impeachment Hearing Heavy on Politics, Light on SubstanceUAW Aims For At Least 30% Wage Bump to Woo New Members‘Fortnite’ Maker Epic Games Is Cutting About 16% of StaffTop Chinese Scientist Claims India Moon Landing