Shares of popular at-home exercise equipment maker Peloton Interactive (PTON - Free Report) fell 7.3% today after the U.S. Consumer Product Safety Commission said consumers should stop using the company’s treadmill, called Tread+, if small pets or kids are around. The announcement comes one month after Peloton disclosed an accident involving the Tread+ that resulted in the death of a child; the agency also said it knew about 39 other incidents with the treadmill.
Peloton called the advisory “inaccurate and misleading” and CEO John Foley said the company has no plans to stop selling the Tread+.
The recent warning could be a challenge for Peloton as it looks to expand its business with additional treadmill and running-related products and online content
PTON stock rose an eye-popping 434% in 2020 but is down about 30% so far year-to-date.
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Shares of popular at-home exercise equipment maker Peloton Interactive (PTON - Free Report) fell 7.3% today after the U.S. Consumer Product Safety Commission said consumers should stop using the company’s treadmill, called Tread+, if small pets or kids are around. The announcement comes one month after Peloton disclosed an accident involving the Tread+ that resulted in the death of a child; the agency also said it knew about 39 other incidents with the treadmill.
Peloton called the advisory “inaccurate and misleading” and CEO John Foley said the company has no plans to stop selling the Tread+.
The recent warning could be a challenge for Peloton as it looks to expand its business with additional treadmill and running-related products and online content
PTON stock rose an eye-popping 434% in 2020 but is down about 30% so far year-to-date.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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