Peloton
- Peloton is working on releasing a series of new products for 2020: a new treadmill, a rowing machine, and apps for both Amazon Fire TV and Apple Watch, according to Bloomberg.
- New equipment could cheer up Peloton users, who have complained about the company's decision to remove songs by artists like Taylor Swift and Rihanna amid a $300 million copyright infringement lawsuit.
- The company told Reuters that it was 'always working on ideas' but had no new products to announce.
- Investors seemed to like the idea, with Peloton stock surging up nearly 9% immediately following the report. It closed up 5%.
- The news may herald a turnaround for the company, which has hit several bumps recently. Peloton had the third-worst mega-IPO debut in a decade, as shares fell 11%. Its shares fell another 7% after it released its earnings report for the first fiscal quarter in 2020.
- Visit Business Insider's homepage for more stories.
The buzzy fitness equipment startup Peloton, known for its internet-connected exercise bikes and treadmills, may finally have some good news this year after its IPO didn't go quite to expectations.
Peloton will reportedly release two new pieces of fitness equipment next year, according to Bloomberg, including a new cheaper treadmill, and a rowing machine. Peloton is also exploring options to link its smartphone software to Amazon's Fire TV and the Apple Watch, per the report.
See the rest of the story at Business Insider
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from Business Insider https://ift.tt/2KjBTud
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