Don't Sweat the Prime Bike Snafu: These 2 Other Recent Amazon Announcements Are Much Bigger Deals
On Tuesday, Sept. 22, Peloton competitor Echelon announced it would be partnering with Amazon (NASDAQ: AMZN) to produce a low-cost exercise bike called the "Prime Bike." Retailing for under $500, the Prime Bike was designed as a no-frills connected fitness device priced far, far below Peloton's connected bikes, which can cost up to $2,495. Amazon stock spiked on the news that it was competing with the high-flying Peloton.
However, on Wednesday, Amazon denied a formal partnership with Echelon, and asked the company to take down the press release and rebrand the bike. Amazon's stock then fell on Wednesday, giving back some of its gains.
Despite the embarrassing moment and Amazon's 14% decline from recent all-time highs, a couple under-the-radar stories from earlier this month are much more consequential for the e-commerce giant's exciting growth potential.
Source Fool.com
