Peloton’s shares fell 8.3% in after-hours trading on Tuesday following the announcement of a wider-than-expected loss for its fiscal third quarter. The company also reported disappointing sales, citing a product recall of some of its bikes as well as seasonality as major factors. Peloton had recently recalled 27,000 of its treadmills over safety concerns, and it looks like that had an impact on its fiscal performance. Investors also remain apprehensive about the company’s future prospects as the pandemic continues to drag on consumer spending.
