Peloton Interactive Inc PTON shares saw ups and downs on Tuesday, initially rising after announcing a new partnership with Costco Wholesale Corp COST for the holiday season.
What Happened: Starting November 1, Costco will sell the Peloton Bike+ in 300 U.S. stores and online. An exclusive Bike+ bundle will be available for Costco members through February 15.
“Costco is a trusted brand, and we look forward to this collaboration to expand Peloton’s reach,” said Dion Camp Sanders, Peloton’s chief emerging business officer.
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The Peloton Bike+ will be priced at $1,999 in-store and $2,199 online, with an all-access membership costing $44 monthly.
This partnership aims to increase Peloton’s visibility among affluent consumers during the holidays.
PTON Price Action: At publication Tuesday, Peloton shares were up 2.55% at $5.34, according to Benzinga Pro.
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