Peloton looks to place equipment in gyms, launch marketplace, TechCrunch says

Peloton (PTON) CEO Peter Stern said the company is exploring ways to expand its customer base by making its products available for use in gyms and launching a peer-to-peer marketplace for equipment, Ivan Mehta of TechCrunch reports, citing comments made by Stern at the Bloomberg Tech Summit. Peloton plans to distribute its machines to commercial gyms via is subsidiary Precor and will add Peloton workouts to compatible Precor equipment.

Confident Investing Starts Here:

• Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions

• Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See Insiders’ Hot Stocks on TipRanks >>

Read More on PTON:

Disclaimer & DisclosureReport an Issue

• Peloton’s Strategic Initiatives and Margin Improvements Justify Buy Rating

• Peloton Interactive call volume above normal and directionally bullish

• Peloton’s ‘Repowered’ Marketplace: A Strategic Move to Boost Revenue and Brand Loyalty

• Repowered: Peloton Stock (NASDAQ:PTON) Ticks Up with New Used Market

• Peloton price target lowered to $8.50 from $10 at Citi