Peloton rises after Costco holiday season partnership announced
Oct 22 -** Shares of Peloton Interactive PTON.O up 1.2% at $5.55 early Tues after partnership with Costco COST.O announced
** COST to offer PTON's Bike+ in 300 of its U.S. stores for $1,999, and on retailer's e-commerce site for $2,199 beginning Nov 1, cos say
** COST members able to purchase Bike+ bundle through Feb 15, or while supplies last, per the statement
** PTON shares rose ~5% before the bell after CNBC reported on the new partnership
** In Aug, the beleaguered fitness equipment maker posted small rise in sales, signaling its years-long turnaround efforts were starting to pay off
** Through Mon close, PTON shares had lost 10% YTD. Stock well off its all-time high of around $171 hit in early 2021, when co was swept up in meme-stock rally
(Lance Tupper is a Reuters markets analyst. The views expressed are his own)
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