By Christiana Sciaudone
Investing.com -- Peloton (NASDAQ:PTON) dropped almost 4% amid news of a child's death after an accident with its Tread+.
Chief Executive Officer John Foley sent condolences to the family involved in a letter sent to owners of the equipment, and included a reminder of safety warnings. No further details of what occurred were provided. Foley noted that children and pets should be kept away from the equipment, and the space around it should be cleared and the safety key removed when it is not in operation.
Peloton is down more than 30% since hitting an all-time high late last year. It has been a pandemic darling, with demand skyrocketing as we stayed home and away from the gym. But too much of a good thing has hurt the company, which has been struggling with delivery issues to satisfy the hunger for its pricey bikes.