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Why Peloton Stock Dropped 4% Today

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Shares of Peloton Interactive (NASDAQ: PTON), a maker of connected home-exercise equipment, were down 4% as of 3:15 p.m. EDT on Friday, after dipping more than 5% earlier in the day. 

A product recall announced yesterday -- and, possibly, coronavirus-related news -- are weighing on the stock today. 

On Thursday, Peloton announced a recall of a type of clip-in bike pedal, involving about 27,000 of its home exercise bikes. The company said the PR70P pedals "can break unexpectedly during use, causing laceration injuries."

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