| 2021-05-05 10:09:54|
PTON 10:09 05/05 05/05/21
Peloton falls 7% after announcing recalls, stopping sale of Tread+
Shares of Peloton Interactive are falling after the company announced two separate recalls related to its treadmill products. The U.S. Consumer Product Safety Commission and Peloton are announced two separate voluntary recalls of Peloton's Tread+ and Tread treadmills. Consumers who have purchased either treadmill should immediately stop using it and contact Peloton for a full refund or other qualified remedy as described in the press releases below, the agency said in a statement. Peloton has also stopped sale and distribution of the Tread+ and continues to work on additional hardware modifications. In the United States, the Tread was only sold as part of a limited invitation-only release from about November, 2020 to about March, 2021 and the company is currently working on a repair to be offered to Tread owners in the coming weeks. Shares of Peloton are down 7% to $89.69 in morning trading.