Peloton CEO John Foley Touts Product Pipeline, Firm Refut

Peloton CEO John Foley touts product pipeline, firm refut

Piloton bike

Shannon Stapleton | Reuters

Pilot mentioned Tuesday it’s not blocking the event of recent Related Health merchandise subsequent 12 months, opposite to a report printed by Digitimes.

Shares of Peloton fell almost 5% in pre-market buying and selling on Tuesday on the information, however after Peloton’s spokesman denied the report, the inventory made up for some losses. Not too long ago, the inventory was down lower than 1%.

A Peloton spokesman mentioned the corporate plans to innovate all of its product strains by 2022.

In a tweet, CEO John Foley talked about the corporate’s product pipeline.

“I’m very happy with what our @onepeloton workforce has achieved this 12 months,” Foley wrote. “We have now by no means been extra enthusiastic about our product pipeline and look ahead to what’s going to are available in 2022 as we proceed to innovate to assist our members reside more healthy lives.”

Piloton, who makes bicycles and treadmills, is rumored to be engaged on a rowing machine. Early subsequent 12 months, it is usually anticipated to start promoting a energy coaching system known as the Piloton Information in a bundle with a brand new heartrate arm band. Analysts count on the corporate to have quite a few new merchandise within the pipeline to maintain gross sales rising.

DigiTimes didn’t instantly return a name looking for remark.

Piloton’s inventory has been unstable in current buying and selling classes. The inventory is down about 73% 12 months on 12 months, bringing its market cap to about $ 13.4 billion.

Final week, her picture was tarnished by the HBO Max reboot of the favored “Intercourse and the Metropolis” present, and after the principle character died after exercising on considered one of her cycles, the inventory despatched a large number. On Sunday, Pilot shared a parody business discussing the advantages of his train courses with actors Chris Knott and Ryan Reynolds. The corporate mentioned it pulled the advert collectively in 48 hours.

-CNBC Diana Olik Contributed to this report.


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