Peloton (NASDAQ:PTON) stock is getting a boost on Wednesday after the fitness company’s products started selling on Amazon (NASDAQ:AMZN).
Now, Amazon is carrying the Peloton Bike, Guide, “select accessories” and clothing. That’s a major change for the company. Previously, Peloton’s products were limited to its website, inside channels and showrooms.
Peloton notes that this change allows customers to purchase its bikes with delivery in most of the United States. That gives it a wider reach than before, with Amazon customers being able to check if the fitness products are available for purchase and delivery in their areas.
Peloton CEO Kevin Cornils said the following in a news release:
“Expanding our distribution channels through Amazon is a natural extension of our business and an organic way to increase access to our brand […] We want to meet consumers where they are, and they are shopping on Amazon.”
News of the Amazon product listings has PTON stock seeing heavy trading on Wednesday. As of this writing, more than 41 million shares have changed hands. That’s a massive surge next to the daily average trading volume of about 12 million shares.
PTON stock is up 18% as of Wednesday morning but still down 62% since the start of the year.
Investors seeking out more of the latest stock market news are in luck!
InvestorPlace has investors covered with all of the hottest stock market news for Wednesday! This includes what has shares of Sunrun (NASDAQ:RUN), Bavarian Nordic (OTCMKTS:BVNRY) and Starbox Group Holdings (NASDAQ:STBX) stock in the news today. You can get up to speed on all of that at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
