• Loading stock data...
Friday, July 12, 2024

Peloton Recalls 2.2 Million Bikes Following Injuries

  • Peloton received reports of 13 injuries related to broken seat posts for its bikes.
  • Once at $50 billion, Peloton’s market cap now hovers around $2.4 billion
Peloton is recalling 2.2. million bikes.
Peloton

Peloton is recalling 2.2 million exercise bikes due to a seat defect on original models sold between 2018 and 2023.

The bike’s seat post “can break during use, posing fall and injury hazards to the user,” the U.S. Consumer Product Safety Commission said Thursday. 

Peloton said it has received 35 reports of broken seat posts and 13 of related injuries, including a fractured wrist, lacerations, and bruises due to falling from the bike.

Still Spinning

Peloton’s slumping sales and stock price have lowered the company’s market cap to $2.4 billion — a steep decline from its peak of $50 billion during the pandemic.

In its earnings report this month, Peloton said it lost $275 million for the quarter despite a 5% year-over-year growth in connected fitness subscribers. 

Peloton’s latest bike recall follows the company’s recall of roughly 125,000 of its Tread+ treadmills in May 2021. In January, Peloton agreed to pay a $19 million fine for failing to immediately report safety hazards.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
April 13, 2024; Columbus, Ohio, USA; Ohio State Buckeyes wide receiver Emeka Egbuka (2) catches a pass for the scarlet team while defended by cornerback Jordan Hancock (7) of the grey team during the first half of the LifeSports Spring Game at Ohio Stadium on Saturday.

As NIL Turns Three, Collectives and Football Still Control the Industry

Collectives dominate NIL, and football makes up most of collective budgets.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
Sponsored

How Duracell is Making Fans Fall in Love with F1 Racing

Nobody expected this household brand to become F1’s newest darling.
podcast thumbnail mobile
Front Office Sports Today

College Sports’ Newest Insiders

0:00

Featured Today

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
July 7, 2024

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.
Oct 27, 2023; Sacramento, California, USA; A general of the Sacramento Kings logo on the court before the game against the Golden State Warriors at Golden 1 Center.
July 6, 2024

How Sports Went From Private Equity Punchline to Coveted Asset Class

Once an industry punchline, sports are now a coveted asset class.
July 2, 2024

Willie Mays’s Humility Was Key to His Genius

Mays took heat from all sides, and handled it his own way.
Peloton

Peloton Timeline: CEO Changes, Layoffs, Recalls, and Falling Stocks

The company has fallen from grace after roaring success in 2020.
August 10, 2023

Alternative Golf Venues Thriving ‘Off-Course’ By Attracting Younger Players

In 2022, 15.5 million people participated in off-course golf activities. 
October 18, 2023

Peloton To Bring Live Sports To Its Fitness Devices

NBA League Pass will be available to watch on Peloton devices.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
Nike's group fitness studios follow its Netflix workout streaming deal.
August 3, 2023

Nike Leans Into In-Person Fitness As Lululemon Cuts Back

With fitness classes already on Netflix, Nike now plans in-person studios.
UBS estimates that pickleball injuries have cost Americans $377 million this year.
June 27, 2023

Pickleball Injuries Could Cost U.S. Nearly $400 Million Per Year

UBS estimates that pickleball injuries have cost Americans $377 million this year.
Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
June 1, 2023

Harry Kane Invests in OxeFit, Fitness Startup Reaches $45 Million in Funding

Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
The huupe "smart" basketball hoop in a gym.
May 23, 2023

Can Basketball Hoops Become Part of the Smart Gym Ecosystem?

Huupe is selling its product to professional and college basketball teams.