Shares of Peloton Interactive Inc. slid to a new all-time low Thursday, with a recall announcement the latest in a string of negative developments.
Shares of Peloton Interactive Inc. slid to a new all-time low Thursday, with a recall announcement the latest in a string of negative developments for the maker of connected exercise equipment.
Peloton’s... Shares of Peloton Interactive Inc. slid to a new all-time low Thursday, with a recall announcement the latest in a string of negative developments for the maker of connected exercise equipment. Peloton’s stock has suffered a fall from grace since the company went public in September 2019 with an initial public offering price of $29 a share. The shares finished as high as $167.42 Jan. 13, 2021, buoyed by strong demand for its equipment as the stay-home economy roared on during the pandemic. But demand for Peloton bikes cooled in a big way as the economy reopened, and the company has been trying to find its footing in the new reality.
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Peloton Shares Plummet 7% As Exercise Company Recalls 2.2 Million BikesPeloton’s recall stems from an issue with detaching seats in one of its bike models–the company’s latest recall, following a 2021 recall of its treadmill after a child died underneath the machine.
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Peloton recalls 2.2 million exercise bikes over seat issuePeloton Interactive Inc will recall 2.2 million exercise bikes due to the risk of injuries from a seat-related issue, the company said on Thursday, sending its shares down 7%.
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Peloton is recalling more than 2 million exercise bikes. Here's whyPeloton is recalling more than 2 million of its exercise bikes because the bike’s seat post assembly can break during use, posing fall and injury hazards. The recall includes approximately 2.2 million of the Peloton Bikes Model PL01. The bikes were sold from January 2018 through May 2023 for about $1,400. They were sold at Peloton and Dick’s Sporting Goods stores nationwide and online at Amazon, Peloton and Dick’s websites.
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