Peloton Stock surges on TikTok deal

Key PointsLast week, Peloton announced a partnership with TikTok to bring its workout content to a new fitness hub called #TikTokFitness, causing PTON shares to jumped 9.6% on the news.A key contributor to the growth is expected to be the company’s new fitness-as-a-service model whereby consumers can now rent a Peloton bike rather than making an expensive fitness equipment purchase.With 14% of the stock’s float in the hands of short sellers, a milder version of past short squeezes could be on Peloton’s path ...