Peloton uses technology and design to connect the world through fitness, empowering people to be the best version of themselves.
Peloton is an American exercise equipment and media company that was founded in 2012 and launched with help from a Kickstarter funding campaign in 2013. The company is based in New York, New York. Its main product is a stationary bicycle that allows users to remotely participate in spinning classes that are streamed from the company’s fitness studio and are paid for through a monthly subscription service.
Fitness classes and subscriptions
The stock downgrade comes amid the unprecedented run-up over the last year as the COVID-19 pandemic fueled the fitness-from-home business. Peloton also faces a major challenge ahead of delivering fitness equipment to its customers.
As part of the deal, Peloton will straight away acquire Precor’s fitness equipment manufacturing factories across four locations in the US This is like to help Peloton is dealing with some of its supply chain issues and meet the demand requirements.
Nasdaq 100 will include stocks of Marvell Technology, Okta, and Atlassian. Besides, it will add American Electric Power, Match Group, and Peloton Interactive stocks.