Peloton CEO John Foley, middle, celebrates his firm's IPO on the Nasdaq MarketSite, Thursday, Sept. 26, 2019 in New York.Mark Lennihan | APPeloton
Peloton CEO John Foley, middle, celebrates his firm’s IPO on the Nasdaq MarketSite, Thursday, Sept. 26, 2019 in New York.
Mark Lennihan | AP
Peloton Interactive reviews earnings for the primary time since going public earlier than the bell Tuesday.
The corporate, which sells linked health gear and subscriptions to stream its exercise courses, made its public debut in September. Wall Avenue is rising more and more skeptical of money-losing start-ups, with names like SmileDirectClub, Uber, and Pinterest all struggling within the public market this yr.
Peloton’s inventory is buying and selling round $24, under its IPO price of $29. Peloton had the second-worst debut of a so-called unicorn, or an organization with an providing measurement bigger than $1 billion, this yr.
CEO John Foley co-founded Peloton in 2012. The corporate sells train bikes and treadmills for about $2,000 and $4,000, respectively. Members pay $39 a month to stream courses on the screens hooked up to the gear. Peloton additionally sells a digital membership that for $19.49 provides individuals entry to courses on its cellphone app.
Disclosure: CNBC mum or dad Comcast-NBCUniversal is an investor in Peloton.
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