Nearly 4 million UnitedHealth members will have access to the Peloton App for free for 12 months. The on-demand classes include yoga, meditation, running and of course cycling. This is the first time Peloton has teamed up with a health insurance provider.
“Expanding access to Peloton’s industry-leading health and wellness community builds upon our commitment to developing digital health resources and consumer-centric benefits to help people live healthier lives,” said Philip Kaufman, UnitedHealth Group Chief Operating Officer.
Peloton Stock Breaks Through Key Line
Shares surged 6.7% to close at 126.35 on the stock market today. Peloton stock jumped above its 200-day line, according to MarketSmith analysis. UnitedHealth rose 1% to 412.97. The insurer has a flat base with a 426.08 entry point.
Peloton’s upscale stationary bikes and treadmills have become popular during Covid-19 lockdowns as gyms closed. But PTON stock lost more than half its value from early January to early May as restrictions lifted and people returned to their gyms.
The company came under fire in April after the Consumer Product Safety Commission said users with small children or pets should stop using Peloton’s treadmill following the death of a child.
With stationary bike sales declining from Covid-19 highs, Peloton is looking at creative ways to keep users engaged. The company told CNBC Monday that it will launch an in-app video game called Lanebreak next year that allows users to win points and race other players.
Concerns about rising coronavirus cases due to the Delta variant may be boosting PTON stock and other Covid plays.
Follow Gillian Rich on Twitter for investing news and more.
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