Peloton shares soar on digital content partnership with Lululemon

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Jen Van Santvoord rides her Peloton exercise bike at her home in San Anselmo, California.

Ezra Shaw | Getty Images

Peloton shares spiked Wednesday as the company announced a five-year partnership to develop digital fitness content for Lululemon.

The fitness company's stock soared as much as 30% in extended trading.

Lululemon said it will stop selling the Studio Mirror device by the end of the year.

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