Why Peloton Interactive Stock Popped Today
Peloton Interactive (NASDAQ: PTON) stock took a tumble yesterday, falling nearly 5% on news that a child had suffered a fatal injury related to one of the company's Tread+ treadmills -- and that the U.S. Consumer Product Safety Commission is investigating the incident.
In a letter to customers, Peloton founder John Foley said, "We design and build all of our products with safety in mind. But in order to help ensure that you and your family members stay safe with Peloton products in your home, we need your help. ... Keep children and pets away from Peloton exercise equipment at all times."
And already today, Peloton stock is recovering on news that Bank of America is doubling down on its endorsement of the stock, which is up 4.9% as of 12:12 p.m. EDT.
Source Fool.com
