Peloton shares fell nearly 5% in premarket trading Tuesday on the news, but after a Peloton spokeperson refuted the report, shares recouped some of the losses. Recently, the stock was down less than 1%.In a Tweet, CEO John Foley touted the company's product pipeline.
"I'm so proud of what our @onepeloton team has accomplished this year," Foley wrote. "We've never been more excited about our product pipeline and look forward to what's to come in 2022 as we continue to innovate to help our Members lead healthier lives." Peloton, which makes cycles and treadmills, has been rumored to be working on a rowing machine. Early next year, it's also expected to begin selling a strength training device called
in a bundle with a new heartrate arm band. Analysts anticipate the company has a number of new products in the pipeline in order to keep growing sales.Peloton's stock has been volatile in recent trading sessions. Shares remain down around 73% year to date, bringing its market cap to around $13.4 billion.
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Source: CNBC - 🏆 12. / 72 Read more »