Send me real-time posts from this site at my email

Why Peloton Stock Fell Over 7% on Monday

Shares of popular at-home exercise equipment maker Peloton Interactive PTON 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 >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Peloton Interactive, Inc. (PTON): Get Free Report
To read this article on click here.
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue