Which Peloton? Doppelganger IPOs Could Confuse Traders Again
(Bloomberg) -- Peloton filed for an initial public offering on Friday. No, not that Peloton.
Traders eagerly awaiting an IPO filing by Peloton Interactive Inc. -- the home exercise firm worth about $8 billion -- might have briefly been fooled when Peloton Therapeutics Inc. -- a cancer research startup -- filed its prospectus first.
If both companies do go public, their similar names could spark more mistaken-identity trades tied to recent listings. Earlier this month, shares in microcap Zoom Technologies Inc. extended a 70,000 percent surge that it experienced while Zoom Video Communications Inc. went through its IPO process.
©2019 Bloomberg L.P.