Could This New Product Help Peloton Finally Break Away From Other Luxury Fitness Rivals?

Peloton Interactive (NASDAQ: PTON) has been cycling higher on bets the home fitness trend that surged during the coronavirus pandemic will live on well beyond the crisis, but what really got the connected exercise equipment maker moving last week was news that new, lower-cost fitness equipment is on the horizon. Although it has been rumored for months that Peloton may introduce some cheaper workout gear that doesn't require taking out a second mortgage on your house to purchase, CFO Jill Woodworth has given the clearest indication yet that a new lower-cost product is coming. A Peloton connected stationary bike costs $2,245, while a connected treadmill goes for just under $4,300.