Peloton Stock Pops On Amazon Deal: What's Going On?

Peloton Interactive Inc PTON shares are trading higher Wednesday after the company announced the launch of its products, apparel and accessories in Amazon.com Inc’s AMZN U.S. stores.

The Peloton Bike and Guide, as well as select accessories and apparel are now available for purchase on the Amazon platform. Prior to Wednesday, Peloton’s new products and accessories were sold exclusively through the company’s site, inside sales channels and global showrooms. The collaboration with Amazon will allow Peloton to expand its distribution.

The Peloton Bike will be available with in-home delivery and customers have the option to assemble the bikes themselves or select an add-on expert assembly option. The in-home delivery and expert assembly are offered at no additional cost to customers.

“Expanding our distribution channels through Amazon is a natural extension of our business and an organic way to increase access to our brand. We want to meet consumers where they are, and they are shopping on Amazon,” said Kevin Cornils, chief commercial officer of Peloton.

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PTON Price Action: Peloton has a 52-week high of $40.35 and a 52-week low of $8.22.

The stock was up 7.5% at $12.04 at press time, according to Benzinga Pro.

Photo: courtesy of Peloton.



Image and article originally from www.benzinga.com. Read the original article here.