Why Peloton Stock Surged Higher Today
Shares of Peloton Interactive (NASDAQ: PTON) spiked today after the company announced that it was raising prices for some of its workout equipment and after Bloomberg reported that the company is also laying off some of its staff. Peloton said on its website today that it's hiking the prices of some of its hardware, including its Peloton Bike+ and Peloton Tread. The cost of the Peloton Bike+ is jumping by $500 to $2,495 while the price of its Peloton Tread will surge $800 to $3,495.
