FINANCE; Peloton’s treadmill recall erases $4B in value on eve of exercise company’s earnings release.
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Peloton shares have fallen 45% in 2021.
- Investors bailed out of Peloton shares after the company announced the voluntary recall of its Tread+ and treadmill products following the accidental death of a child.
- The stock lost 14.5% in Wednesday’s session which pulled its market value down by $4 billion to $24.3 billion, as tracked by Dow Jones Market Data Group. The interactive media company is set to report earnings after the close of trading on Thursday.
SOURCE – FOXBUSINESS
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