Peloton (NASDAQ:PTON) stock is on the move Wednesday as the fitness company expands its partnership with Amazon (NASDAQ:AMZN).
That expanded partnership has Peloton now selling its exercise bikes to customers in the United Kingdom through Amazon. This allows customers to have the bikes delivered to them with the option to have them set up by an expert installer at no extra cost.
With the launch of Peloton on the Amazon U.K. store, customers have a few options for products they can purchase. That includes the Peloton Bike, Peloton Guide and several Peloton accessories.
Peloton isn’t just expanding into the United Kingdom, either. The company also says its deal with Amazon will soon bring its exercise bikes to customers in Germany, too. It’s worth noting this comes after PTON signed its initial deal with Amazon in August.
What’s Behind the Expansion?
According to Peloton General Manager Manu Seigner, Peloton is expanding to Germany and the U.K. because the company has active members in those regions. Seigner says this is part of the company’s effort to focus on areas where its customers already are.
PTON stock investors aren’t overly excited by today’s news. Trading volume remains well below the company’s daily average of 17 million shares. Also, shares are down 6.9% as of Wednesday morning.
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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.
