By Dhirendra Tripathi

Investing.com – Peloton Interactive stock (NASDAQ:) surged 23% in premarket trading Monday on reports that Amazon (NASDAQ:) and Nike Both (NYSE:) and the company are interested in purchasing it.

According to Reuters, Amazon is looking into a deal for Peloton. Advisors are currently discussing how and when they should proceed. A Financial Times report added Nike to its list of potential buyers on Friday.

This comes amid turmoil at the company, which has suffered a loss of as high as 84% from last year’s peak value at $50 billion. Peloton was one of the largest beneficiaries when people at home used the equipment to stay fit. People returned to going outside and joining gyms as the economy recovered. The company’s treadmills, bikes and sales fell. Three quarters prior, it was in net loss. Since then, its losses have gotten worse with each quarter.

Although some products were reduced, the company’s image of itself as a manufacturer of premium items has been distorted. It is still a work in progress to cater for a mass market. The company has also announced plans to cut costs, and according to a Bloomberg report, isn’t ruling out job cuts.

Blackwells Capital, an activist investor, is pushing for Peloton to make changes, including replacing John Foley as CEO. Jason Aintabi runs the investment company and is pushing for Peloton’s sale to an entity like Blackwells Capital. Disney (NYSE:), Apple Sony According to a separate report from Reuters, (NYSE:) and Nike (NYSE:).