Shares of Peloton (PTON) spiked more than 11% after Greenlight Capital’s David Einhorn made a pitch to investors while he was riding a Peloton bike that shares of the company are “significantly undervalued,” reported CNBC, citing a person familiar with his remarks. Greenlight Capital, the hedge fund that Einhorn founded, previously had disclosed it had a stake in the company as of June 30, the report noted.
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