fbpx
Big Law

Peloton Cuts Equipment Prices and Raises Subscription Fees

Peloton is hiking the monthly fee for its on-demand fitness content for the first time ever, while it also slashes the prices of its Bike, Bike+ and Tread machines in a bid to reach new customers under Chief Executive Barry McCarthy.

McCarthy, who has been at the helm of the company for a little over two months, is set to announce the sweeping changes internally Thursday. It comes as Peloton is attempting to turn around a recent sharp decline in its share price.

Peloton shares initially jumped on the news before they were halted shortly after 11 a.m. for trading volatility. The stock closed the day down 4.6%.

Read the source article at cnbc.com

Leave a Review or Comment

Back to top button