Manufacturer of stationary bikes Peloton Interactive Inc’s (NASDAQ: PTON) CEO John Foley said on Thursday that a tragic accident involving Tread +, a bicycle manufactured by the company, resulted in the death of a child.
What happened: Peloton co-founder Foley in a note revealed an accident involving fitness equipment and a child that resulted in death, adding that the company is aware of only a small handful of incidents involving Tread + where children were injured, without disclosing further. Details.
Peloton’s sales grew as demand for home fitness equipment skyrocketed due to the closing of gyms during the pandemic. The manufacturer of the gym equipment warned that children should stay away from the company’s machines.
See also: How to Buy Peloton Stock (PTON)
According to the United States Consumer Product Safety Commission (CPSC), the incident was reported last month and Peloton only learned of this incident from the commission’s database.
In a previous response to the CPSC, Peloton said the Tread + is designed for use by people over the age of 16, weighing over 105 pounds and warned that children and pets should be kept away from exercise equipment at all times.
Peloton announced on Thursday that it was launching a new clothing line in partnership with Adidas AG (OTC: ADDYY).
Price action: Peloton’s stock closed 5% lower at $ 102.74 on Thursday and traded virtually unchanged in the early hours.
Photo: Courtesy of Peloton
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