Peloton’s stock pulls back from record after Amazon unveils exclusive Echelon smart connect fitness bikes

/ / News

Shares of Peloton Interactive Inc. dropped 3.0% in premarket trading, to pull back from the previous session’s record close, after Amazon.com Inc. unveiled its “Echelon Smart Connect Fitness Bikes,” for $499. The Amazon exclusive offers live and on-demand classes, and said one membership works for all machines including Connect Bikes, Row, Reflect mirrors and future machines. Peloton’s exercise bike starts at $1,895, and the Peloton Bike+ offering starts at $64 per month. Peloton’s stock has rocketed 233.8% year to date through Monday, while Amazon shares have rallied 60.2% and the S&P 500 has gained 1.6%.
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.