Can Peloton Ride the Bike to New Heights?
When Peloton Interactive (NASDAQ: PTON) reported its financial results a couple of months ago, the biggest development was that the company reduced the price of its original stationary bike by $400. "Today, we announced our latest step on the journey to broaden the accessibility of our products," CEO John Foley said. The Bike will now set you back only $1,495.
For the $26-billion maker of connected-fitness equipment, this is a major initiative by management to drive higher levels of demand. And if it proves to be the right strategy, it can propel Peloton's business (and stock price) to new heights.
Image source: Peloton Interactive.
Source Fool.com
