Peloton shares jump on report of cheaper treadmill and new rowing machine coming next year
that the company plans to launch a new rowing machine and cheaper treadmill next year.
Peloton, which sells fitness equipment that streams subscription-based workout classes, currently offers bikes and treadmills for $2,000 and $4,000, respectively. Streaming workout classes costs $39 a month, while Peloton also sells a digital membership for $19.49 a month that gives access to classes on the company's mobile app.Last week, Peloton's shares seesawed onsince going public in late September. The company reported revenue of $228 million, compared with the $112.
Peloton shares are down approximately 11% from its initial IPO price of $29 per share. Following its public offering, Peloton had the second-worst debut this year of a "unicorn" company, or a company with a valuation above $1 billion.
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