Shares of Peloton Interactive (NASDAQ: PTON) jumped 6.2% on Friday after its chief financial officer hinted that the home-based fitness equipment maker could soon debut a lower-cost version of its popular treadmill.
During Barron's Investing in Tech conference call on Wednesday, Peloton CFO Jill Woodworth said the company was considering a lower-priced treadmill as its next product offering. "The only category that we have spoken explicitly about is our desire to have a lower-priced tread, or a tread that's priced more in line with our existing bike," Woodworth said.
Investors' excitement over a potential new treadmill product launch drove Peloton's stock higher on Friday. Image source: Peloton.
Source Fool.com