Peloton's Stock Drops on Recall of 2 Million Exercise Bikes.
Peloton is recalling over two million exercise bikes after receiving 35 reports of seat posts breaking and detaching from the original model of its bike during use. The company is offering customers replacements for the bike’s seat posts that can be installed at home. Peloton's shares tumbled nearly 9 percent by the market close and have plunged more than 20 percent this month. This is not the first time Peloton has faced a recall, having recalled pedals on about 27,000 bikes in 2020.