Peloton Shares Surge 11% After David Einhorn Calls Stock Significantly Undervalued, Targets $31 from $12

Shares of Peloton Interactive Inc. surged 11% following comments from billionaire investor David Einhorn, who stated that the stock is significantly undervalued. Einhorn, the president of Greenlight Capital, expressed optimism about Peloton's potential, suggesting that the stock could reach $31, compared to the firm's current price target of $12. His remarks were made during a presentation where he humorously pitched Peloton while riding one of its bikes. This endorsement has drawn attention to Peloton's stock, which has seen increased interest in light of Einhorn's positive assessment.