(Reuters) – Peloton Interactive Inc is drawing interest from potential suitors including Amazon.com Inc, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The at-home exercise bike maker’s shares surged 40% in extended trading on Friday.

Last month, activist investor Blackwells Capital called on the board of Peloton Interactive to remove Chief Executive Officer John Foley and put the company up for sale.

Neither Amazon nor Peloton immediately responded to Reuters requests for comment.

Peloton, a pandemic darling, has lost roughly $20 billion in value since November, when it hinted that demand for its exercise bikes and treadmills was slowing faster than expected.

According to the report, Amazon has been speaking to advisers about a potential deal. However, there is no guarantee the e-commerce giant will follow through with an offer or that Peloton would be receptive, it added.

(Reporting by Rithika Krishna and Tiyashi Datta in Bengaluru; Editing by Devika Syamnath)