Peloton Accelerates Expansion Plans With Price Cut
Exercise equipment maker Peloton Interactive (NASDAQ: PTON) is picking up speed in its growth ambitions. The company experienced surging demand when folks were cooped up at home during the pandemic. As economies reopen, the company is still growing sales, but not at the frenzied pace it did during lockdowns.
Now management wants to make its products and services available to even more people. By cutting the price of its original bike, management is hoping to attract a wider market. It's a time-tested economic formula: When the price of a product decreases, more units usually get sold.
Image source: Getty Images.
Source Fool.com
