Peloton stock crashes following recalls, security report
Shares of home-exercise giant Peloton are falling today, off some 13.6% as of the time of writing. This comes after the company announced a recall of its treadmill product, and TechCrunch reported that the company failed to fix a security issue regarding user data.
The value of Peloton shares soared during the pandemic, as the company’s product found itself in secular updraft driven by a move to working, and working out, from home in the face of COVID-19’s spread. Worth around $30 per share at the start of 2020, Peloton’s stock price shot to more than $150 per share by the end of the year.