Peloton Interactive Inc. (NASDAQ: PTON) has announced it has decided to expand its lineup and reduce the price of its core exercise bike by 16% this week. This move allows Peloton Interactive to resolve complaints about the changing sticker shock.
The company has disclosed that it will reduce the price of its core bike by $350 to $1,895. It has also announced that it will be refunding the customers due to the reduction in the prices. Peloton Interactive will also introduce more premium options for customers.
The new Bike+ of Peloton will cost $2,495 and also has a feature of a rotating tablet screen that will more easily allow people to engage in Peloton’s bike workouts and floor-based workouts. Peloton aimed to attract new customers by cutting the prices and launching new products. The company said that its main goal is to be the go-to-at-home solution for as many people as possible.
Peloton Interactive has announced one more exciting news for its customers. It has disclosed that its new treadmill which is affordable will be available to customers in early 2021. Its existing treadmill which will be renamed Tread+ has a selling price of $4,295 but the new treadmill will have the selling of $2,495. Peloton has fulfilled its promise it has made earlier after announcing the new cheaper products and by reducing the prices.
Peloton Interactive (NASDAQ: PTON) traded up 6.16% after gaining +4.97. It has a closing price of $85.60. In the past 52-weeks of training, this company has recorded the 52-weeks low and high range of $17.70 and $92.50, respectively. It has traded up 383.62% from its 52-weeks low and traded down -7.46% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 3.30. Peloton Interactive market capitalization has remained high, hitting $24.74 billion at the time of writing.
The company has also unveiled that it has decided to host the Virtual Investor and Analyst session on Tuesday, September 15, 2020. The company’s management will give presentations in the virtual session and will be webcast live and available over the internet.
