Investing.com – Peloton stock (NASDAQ:PTON) rose 5% Monday as the company said its new treadmill will begin to sell in the U.S., Canada and the U.K. starting Monday.
The all-fresh Peloton Tread will be available in Germany in fall 2021, a company note said today.
The treadmill will cost U.S. customers $2,495, cheaper than the previous versions. The all-access membership, which enables members to access Peloton content using the Peloton Tread, is separate.
The debut comes after Peloton in early May voluntarily recalled both its Tread and more expensive Tread+ machines over safety concerns, after cases of injury and even a death was reported. There were also instances of the touchscreen falling off the Tread.
Peloton and the U.S. Consumer Product Safety Commission recently announced a free repair available for the approximately 1,000 Peloton Tread units sold in the U.S. as part of its pre-launch limited distribution. This repair is also available for all current Tread owners in the U.K. and Canada.
The repair ensures that the touchscreen will remain securely attached to the Tread. New Treads sold after today will incorporate these same changes, according to the note.
The Tread described above is different from the Peloton Tread+ and was only sold in the US. The Peloton Tread+ was voluntarily recalled on May 5. Peloton hasn’t yet set a date for re-commencing sales of Tread+.