Peloton Has a New Trick to Win Over Wall Street
Peloton (NASDAQ: PTON) hasn't exactly set the world on fire since going public at $29 in late September. The high-end fitness specialist had the misfortune of hitting the market at a rough time for debutantes, and it has spent its first six weeks of trading below its IPO price.
In an effort to shift away from a model that centers largely around selling pricey treadmills and stationary bikes that go with its monthly fitness training program, Peloton could be tossing out a wider net. Folks familiar with the company's development plans say that Peloton is hoping to put out a cheaper treadmill and introduce a rowing machine next year. Peloton's online platform -- also available to folks with their own fitness gear through stand-alone subscription plans -- is reportedly exploring apps for Fire TV and Apple Watch owners, hoping that connected TVs and smartwatches build on its existing mobile app's presence.
Image source: Peloton.
Source Fool.com
