Citron Research founder Andrew Left discusses why he believes Peloton should invest in Blue Apron.
Peloton is recalling more than 2 million bikes after over a dozen riders reported falling off during use and receiving injuries including a fractured wrist, bruising and lacerations.
The company said in a statement on its website that it is working in cooperation with the Consumer Product Safety Commission (CPSC) to announce the voluntary recall of the Peloton original Bike with model number PL01 due to an issue with the seat post detaching.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PTON | PELOTON INTERACTIVE INC. | 6.86 | -0.67 | -8.90% |
The issue is that the seat on the bike can unexpectedly break during use, "posing fall and injury hazards to the user," according to the CPSC.
PELOTON ORIGINAL BIKE MODEL HAS POTENTIAL SAFETY ISSUE COMPANY WILL ADDRESS
Prior to the recall, the company received 35 reports of the seat post detaching from the bike during use. Of those reports, 13 included injuries due to falling off. The incidents are out of nearly 2.2 million units that were sold in the U.S. as of April 30, 2023, Peloton said. The impacted bikes were sold between January 2018 to May 2023 in the U.S.
PELOTON FINED $19 MILLION FOR NOT REPORTING TREADMILL SAFETY ISSUES
Earlier this month the company disclosed in a filing with the Securities and Exchange Commission that there was a potential safety issue with some seat posts with the company's original bike model.
The company noted in the filing that it "determined that a corrective action plan is warranted" for the potential issue with the seat posts during its third quarter.
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Affected users are told to "immediately stop using the recalled exercise bikes" and contact the company for a free repair. These riders will get a free seat post that can be self-installed, according to the recall.
Peloton Bike+ Members nor Peloton original Bike owners in the U.K., Germany and Australia are not impacted.
The company previously issued a recall for its Tread+ machine following reports of a child's death and dozens of injuries.
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May 11, 2023 at 11:23PM
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Peloton recalls over 2M bikes due to seat issues: 'Immediately stop using' - Fox Business
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