Why Is Peloton's Stock Trading Lower Today?

Peloton Interactive, Inc. PTON shares are trading lower after the company announced a recall of the company's treadmills after reports of injuries and one death.

Reports suggest the Consumer Product Safety Commission said about 1,005 tread units were affected in the U.S. and about 125,000 Tread+ unites were affected.

KeyBanc also issued a note following the recall indicating this is a "clear negative" for the company.

Peloton Interactive Inc operates an interactive fitness platform. It operates its business in three reportable segments: Connected Fitness Products, Subscription, and Other.

Peloton's stock was trading 8.7% lower at $88.26 at the time of publication. The company has a 52-week high of $171.09 and a 52-week low of $35.21.