Peloton Hits Record Low After Recalling 2.2 Million Bikes
- Company first identified the flaw earlier this month
- Peloton will provide new seat post that customers install
A Peloton stationary bike.
Photographer: Adam Glanzman/BloombergThis article is for subscribers only.
Peloton Interactive Inc. shares slipped to a record low Thursday after the fitness company announced a recall of about 2.2 million exercise bikes due to a safety hazard posed by the product’s seat.
Consumers should immediately stop using the bike and contact Peloton for a free repair, the US Consumer Product Safety Commission said in a notice. Customers won’t have to return the equipment, though. Instead, the company will provide a new seat post, which users can install at home.