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Peloton shares rise as treadmill recall impact not as bad as feared

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A Peloton Interactive Inc. Tread exercise machine for sale at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021.

Adam Glanzman | Bloomberg | Getty Images

Peloton shares climbed about 6% Friday as investors realized the financial hit from the company’s treadmill recall isn’t as bad as some had feared.

The exercise equipment maker said demand for its high-end cycles remains strong, despite people increasingly breaking free of stay-at-home routines and gyms seeing pandemic restrictions ease.

Peloton is also still planning to launch in Australia later this year, and is ramping up marketing spending to try to reach new customers.

“While the recall will hit…



Source cnbc.com

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