Peloton Interactive Inc. lowered the price of its original exercise bike Monday while introducing an even more premium option and rolling out a new lower-priced treadmill. The company said it would be reducing the price of its Peloton Bike to $1,895 beginning on Sept. 9, down from a prior price of $2,245. Peloton’s new Bike+ will cost $2,495 and will feature a rotating tablet screen that will more easily allow people to engage in Peloton’s bike workouts and floor-based workouts. The bike also will be able to sync up with a user’s Apple Watch to allow for consistency between metrics. Those with the original Peloton Bike can trade in their older model and receive a $700 credit toward the Bike+ and a yoga and accessories package. Peloton also announced that it will offer a cheaper treadmill beginning in early 2021 that will be priced at $2,495. Peloton’s existing treadmill, which will be renamed the Tread+, sells for $4,295. Peloton shares have climbed 80% over the past three months as the S&P 500 has risen 6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
