Peloton Stock Halted, Tumbles After Surprise Membership Price Hike


Updated at 12:05 pm EST

Peloton  (PTON) – Get Peloton Interactive, Inc. Class A Report said Thursday that it will boost the price of its connected fitness programs for the first time in eight years, while slashing the cost of its signature bikes and treadmills, as the group continues to struggle to add new users under the leadership of incoming CEO Barry McCarthy.

Peloton said the cost for U.S. customers for its all-access membership will rise from $39 to $44 per person, a 12.8% increase, starting June 1. For customers in Canada, the price will increase to C$55 per person from C$49 per person. Prices for international customers, Peloton said, will remain ‘currently’ unchanged. 

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