Peloton stock extends loss after disclosing that a child was fatally injured by one of its treadmills
- Shares of Peloton fell as much as 4% on Thursday following news that a child died due to an accident with the Peloton Treadmill.
- Peloton CEO John Foley emailed Tread+ owners about the tragic accident and urged its users to keep pets and kids away from the machine.
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Shares of Peloton fell as much as 4% on Thursday following news of a tragic accident that resulted in the death of a child involving its treadmill product, the Tread+.
Peloton CEO John Foley emailed Tread+ owners Thursday morning to report the accident and to urge its users to keep pets and children away from the exercise equipment.
"I'm reaching out to you today because I recently learned about a tragic accident involving a child and the Tread+, resulting in, unthinkably, a death," he wrote. "While we are aware of only a small handful of incidents involving the Tread+ where children have been hurt, each one is devastating to all of us at Peloton, and our hearts go out to the families involved."
Peloton shares were already trading lower on Thursday, but extended its losses even further once the news surfaced.
The Peloton Tread+ is similar to most treadmill machines, with its main differentiator being the smart screen and content library of live and recorded workout classes.
"There are no words to express the shock and sadness everyone at Peloton feels as a result of this terrible tragedy," CEO John Foley told customers.