Peloton (PTON) Falls Following Death of Child Involving Tread+ Product

March 18, 2021 2:01 PM EDT

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Peloton (NASDAQ: PTON) shares fell 3% mid-day Thursday after CEO John Foley announced that they have learned about the tragic death of a child involving the company's Tread+ treadmill product.

Mr. Foley called the news "unthinkable" and asked customers to keep children and pets away from Peloton exercise equipment at all times.

Out of respect for the family and their privacy, Peloton is not sharing any additional information.

The company said they designed and tested the Tread+ for use by people over the age of 16 and weighing over 105 lbs. In addition to keeping children and pets away from the Tread+, they said when the Tread+ is not in use Members "should continue to follow the safety instructions by storing the safety key, which keeps the Tread+ from operating, away from the Tread+ and out of reach of children."

"There are no words to express the shock and sadness everyone at Peloton feels as a result of this terrible tragedy," the company added in its statement.

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