Peloton Interactive Inc. rose on Tuesday after the fitness technology company announced a multi-year partnership with Beyonce Knowles to produce a series of workouts for its members.

Its shares rose as much as 8.6 per cent, the most since Sept. 25, after it said it’s collaborating with Knowles, the most requested artist by Peloton’s global community of more than 3.6 million members, according to a statement.

The partnership will commemorate homecoming season at historically Black colleges and universities. Both Peloton and Knowles are also giving away two-year digital memberships to students at 10 of the institutions.

Peloton rose after getting pummeled Monday on news of progress toward a vaccine developed by Pfizer Inc. and BioNTech SE. Peloton’s shares have benefited this year as Covid-19 lockdown measures globally sent demand surging for its fitness equipment as consumers stayed at home. The company is now up about 245 per cent in 2020 after previously climbing more than fourfold.