Peloton Surges in Subscriber Base
Peloton reported it’s earnings today and smashed it. Wall Street loved it sending its stock up 5% in after-hours. Take a look at this highlight below!
For starters, Peloton added an insane 1.1 million users to its digital fitness platform from March 16 to April 30, amid a free trial promotion. The thinking here is that Peloton could convert these free trials into paying memberships, and eventually into a bike or tread.
The fact that I have at least 5 friends who just recently purchase the bike in the last two weeks alone makes me think that Peloton can even go higher and maybe, just maybe, they’ll release their rumored rower or just buy Hydrow. I hoping for the latter as I already love my rower so much and I think that Peloton’s digital base and software will only make the Hydrow experience that much better; as long as they keep the current athletes.
Note: I have a small position in $PTON and am going to hold onto it for a few months.
Update: Wall Street is loving it and Peloton (use my referral code for $100 off: QZGJZA) is up 10% after hours and I think we’ll continue to see a more money flooding into Peloton with their respective less expensive at-home competitors rising as well. At the same time, I’m seeing publicly traded gyms / membership workout services continue to tumble.