Fitness startup that Peloton once tried to buy is growing as workout trends shift
Publishing timestamp: 2024-05-10 10:22:42
Summary
Hydrow, a connected rowing company, is growing and acquiring a majority stake in strength training company Speede Fitness as gymgoers shift away from cardio exercises towards weight training. Hydrow's founder is stepping down as CEO but will remain as chair. The company's growth comes as Peloton struggles with declining sales and losses, raising questions about the broader at-home fitness market.
Sentiment: POSITIVE
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Source: https://www.cnbc.com/2024/05/09/hydrow-acquires-speede-fitness-grows-as-peloton-shrinks.html