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Peloton stock sheds $4 billion in market cap over treadmill recall

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Maggie Lu uses a Peloton Tread treadmill during CES 2018 at the Las Vegas Convention Center on January 11, 2018 in Las Vegas, Nevada.

Ethan Miller | Getty Images

Peloton shares closed Wednesday down nearly 15%, wiping $4.1 billion off its market value in one day, after the fitness equipment maker apologized for not voluntarily recalling both its treadmill machines over safety concerns sooner.

Since March 18, Peloton’s market cap has shed $7.4 billion. That was the day Peloton CEO John Foley revealed that an accident involving a Peloton treadmill had resulted in a child’s death. The company has since been in back-and-forth discussions with the U.S. Consumer Product Safety Commission…



Source cnbc.com

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