4 Fitness Stocks Getting Stronger from At-Home Workouts

PTON stock is my top pick among fitness stocks. For the current year, the stock has already surged 290%. I would wait for some correction before fresh exposure to the stock. As an overview, Peloton Interactive is in the business of fitness products that include the Peloton Bike and the Peloton Tread. These products feature touchscreens that stream on-demand classes. The company is on a high-growth trajectory, and this explains the stock surge. For the first quarter of 2021, the company reported revenue growth of 232% year-over-year. As a matter of fact, the company’s annual revenue growth has been more than 100% for the last six years. Further, for Q1 2021, the company reported positive adjusted EBITDA of $118.9 million. For the prior year, adjusted EBITDA was negative at $21 million. As the company’s EBITDA and cash flow increases, the stock will continue to trend higher. The company’s operating cash flow (OCF) for the first quarter was $312 million. This implies an annualized OCF of $1.2 billion. With the pandemic triggering demand for at-home fitness equipment, the company’s core business will be a cash-flow machine. Given the growth and future outlook of the company, PTON is a high-growth portfolio stock. If the stock does fall below $100 on profit booking, it would be a good time for fresh exposure.

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Canada says stronger response needed to fight coronavirus, PM hopes to avoid major shutdown

OTTAWA (Reuters) – Canadians need to do more to tackle a second wave of the coronavirus by slashing the number of personal contacts they have with others, health authorities said on Friday.

FILE PHOTO: People walk in the Eaton Centre shopping mall, as the provincial phase 2 of reopening from the coronavirus disease (COVID-19) restrictions begins in Toronto, Ontario, Canada June 24, 2020. REUTERS/Carlos Osorio/File Photo

Prime Minister Justin Trudeau said more targeted measures could help avert another major national shutdown of the kind that hammered the economy earlier in the year.

Released modeling updates show the cumulative death toll in the country could range between 10,285 and 10,400 by Nov 8. Cumulative cases could be between 251,800 and 262,200 by the same date.

“(The) long-range forecast indicates that a stronger response is needed now to slow the spread of COVID-19,” chief public health officer Theresa Tam told a briefing.

“If we decrease our current rate of contacts by 25% the epidemic is forecast to come under control in most locations,” she said.

Canada has recorded 10,074 deaths and 228,542 cases so far and is breaking daily records for the number of new cases.

Suncor Energy SU.TO, Canada’s second-biggest oil producer, confirmed 19 infections among workers at its Firebag oil sands site in Alberta, dating back to Oct. 18. All of those affected are in isolation at home or other locations, spokeswoman Erin Rees said.

Suncor shut down part of the site where 17 of the employees worked, but the outbreak has not affected oil production, she said.

Some provinces are reintroducing bans on indoor dining and limiting the size of gatherings.

Manitoba, which has the highest rate of active cases per capita among provinces, said it would tighten restrictions starting on Monday. In Winnipeg, where most cases are located, all restaurants and bars will close to in-person dining.

Trudeau said authorities know more now about the pandemic than they did six months ago.

“There are things we can do to help to control the pandemic, the second wave, without – we hope – having to impose a nationwide shutdown,” he told the briefing.

Additional reporting by Rod Nickel in Winnipeg and Moira Warburton in Toronto; Editing by Kirsten Donovan, Aurora Ellis and Sonya Hepinstall

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