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Peloton CEO John Foley touts product pipeline, corporate refutes record that it is halting building

A Peloton Motorcycle

Shannon Stapleton | Reuters

Peloton stated Tuesday it isn’t halting building of recent attached health merchandise subsequent yr, opposite to a record printed by way of DigiTimes.

Stocks fell just about 5% in premarket buying and selling Tuesday at the information. However after a Peloton spokeswoman refuted the record, the inventory recouped one of the most losses.

The corporate plans to innovate throughout all of its product strains in 2022, a Peloton spokeswoman stated.

In a tweet, CEO John Foley additional touted the corporate’s product pipeline.

“I am so pleased with what our @onepeloton group has completed this yr,” Foley wrote. “We now have by no means been extra serious about our product pipeline and glance ahead to what is to come back in 2022 as we proceed to innovate to assist our Contributors lead more fit lives.”

Peloton, which makes cycles and treadmills, has been rumored to be operating on a rowing system. Early subsequent yr, additionally it is anticipated to start promoting a energy coaching tool referred to as Peloton Information, in a package deal with a brand new heartrate arm band. Analysts wait for the corporate has quite a lot of new merchandise within the pipeline as a way to make bigger gross sales.

DigiTimes did not instantly go back a choice looking for remark.

Peloton’s inventory, interim, has been unstable in fresh buying and selling classes. Stocks stay down round 73% yr thus far, bringing the corporate’s marketplace cap to round $13.4 billion.

Remaining week, an HBO Max reboot of the preferred “Intercourse and the Town” display tarnished Peloton’s symbol and despatched stocks tumbling, after a key personality died from exercising on considered one of its cycles.

On Sunday, Peloton shared a parody business with actors Chris Noth and Ryan Reynolds touting some great benefits of Peloton’s health categories. The corporate stated it pulled in combination the advert in 48 hours.

—CNBC’s Diana Olick contributed to this reporting.

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