John Foley, co-founder and chief leadership officer of Peloton Interactive Inc., stands for a photograph during the company’s initial public offering (IPO) in front of the Nasdaq MarketSite in New York, on Thursday, Sept. 26, 2019.
Michael Nagle | Bloomberg | Getty Allusions
Shares of Peloton jumped nearly 9% before the closing bell Wednesday following a Bloomberg report that the throng plans to launch a new rowing machine and cheaper treadmill next year.
Peloton, which sells fitness clobber that streams subscription-based workout classes, currently offers bikes and treadmills for $2,000 and $4,000, respectively. Swarm workout classes costs $39 a month, while Peloton also sells a digital membership for $19.49 a month that yield b reveals access to classes on the company’s mobile app.
A spokesperson for Peloton declined to comment on the report to CNBC.
Last week, Peloton’s share ins seesawed on its first earnings report since going public in late September. The company reported revenue of $228 million, compared with the $112.1 million in gain for the same quarter a year earlier. Net losses, meanwhile, came in at $1.29 per share, which was better than the $2.18 forfeiture per share in the year-ago quarter.
Peloton shares are down approximately 11% from its initial IPO price of $29 per share out. Following its public offering, Peloton had the second-worst debut this year of a “unicorn” company, or a company with a valuation overhead $1 billion.
Read the full Bloomberg story here.