Why Peloton Interactive Is Soaring Today
Shares of Peloton Interactive (NASDAQ: PTON) are soaring 18.1% at 10:38 a.m. ET on Wednesday after the maker of connected fitness equipment announced it would be selling its bikes, apparel, and accessories through a Peloton storefront on Amazon (NASDAQ: AMZN).
Previously, Peloton gear was only available through its own website or in the handful of retail stores it operated, but the market seems to believe reaching a broader consumer audience through Amazon will help lift sales.
The storefront will only offer Peloton's basic Bike, which sells for $1,445, while the upscale Bike+, which goes for $2,495, will be sold on its own website. Other gear available will include the Guide, an interactive strength training aid; workout mats; shoes; and dumbbells.
Source Fool.com
