{"id":7779,"date":"2023-05-12T10:05:59","date_gmt":"2023-05-12T14:05:59","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/peloton-backpedals-to-near-record-low-after-bike-recall\/"},"modified":"2023-05-12T10:05:59","modified_gmt":"2023-05-12T14:05:59","slug":"peloton-backpedals-to-near-record-low-after-bike-recall","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7779","title":{"rendered":"Peloton backpedals to near record low after bike recall"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022. REUTERS\/Carlo Allegri\/File Photo<\/span>
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NEW YORK (Reuters) – Shares of Peloton Interactive (NASDAQ:) tumbled 6.0% in early trading and hit a more than six-month low on Thursday after the U.S. Consumer Product Safety Commission recalled two million of its exercise bikes due to injury risks.<\/p>\n

The stock was last at $7.08 after falling to $6.76, just ten cents above the record low it touched on Oct. 3.<\/p>\n

Including the session move, Peloton’s stock is down about 12% year-to-date and off more than 40% over the past 12 months.<\/p>\n

The recall follows reports of the bike seat breaking and detaching during use, according to the CPSC.<\/p>\n

Peloton’s shares also tumbled last week after the company reported a wider-than-expected quarterly loss and said it expects to sign up fewer members for the year. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022. REUTERS\/Carlo Allegri\/File Photo NEW YORK (Reuters) – Shares of Peloton Interactive (NASDAQ:) tumbled 6.0% in early trading and hit a more than six-month low on Thursday after the U.S. […]<\/p>\n","protected":false},"author":1,"featured_media":7780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-7779","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nPeloton backpedals to near record low after bike recall | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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