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Dec 1

Peloton Climbs to Record High in Black Friday Fitness Frenzy – Yahoo Finance

Fitness Comments Off on Peloton Climbs to Record High in Black Friday Fitness Frenzy – Yahoo Finance

(Bloomberg) -- Peloton Interactive Inc. gained almost 10%, hitting a record of $35.23 per share after KeyBanc said the company was seeing strong traffic on Black Friday.

Since Pelotons initial public offering fell flat two months ago, investors have called for the company to reevaluate its expensive growth ambitions and focus on turning a profit. The companys basic connected fitness subscription costs $39 a month. Its bikes start at about $2,000 and treadmills start at about $4,000.

SunTrust said on Nov. 5 that an early reading into the companys marketing promotion of its home trial and its $58 per month bike plan this holiday season bodes very well for its second quarter results. Analyst Youssef Squali estimated at the time that Peloton will become profitabile sometime in 2022 before achieving full-year profitability the following fiscal year.

The companys app shares exercise programming with users who dont own its hardware but pay a monthly subscription fee for the classes, which include yoga, meditation and strength training.

The stock is up about 21% from its IPO price of $29.

To contact the reporter on this story: Hailey Waller in New York at hwaller@bloomberg.net

To contact the editors responsible for this story: James Ludden at jludden@bloomberg.net, Matthew G. Miller

For more articles like this, please visit us at bloomberg.com

2019 Bloomberg L.P.

Originally posted here:
Peloton Climbs to Record High in Black Friday Fitness Frenzy - Yahoo Finance

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