Peloton jumps 19% on UBS upgrade, sparks meme stock chatter
Peloton surged 19% after UBS upgraded the stock to 'Buy' with a target of $11, citing attractive risk/reward and better user data. Retail traders on Stocktwits turned 'extremely bullish', fueling speculation of a meme-stock rally. Shares remain down 15.6% YTD, but buzz is building ahead of August 7 earnings.