shares of peloton interactive inc slid to a new alltime low thursday with a recall announcement the latest in a string of negative developments for the maker of connected exercise equipment the stock pton closed off 89 in afternoon trading to finish the session at 686 below its prior closing low of 693 level hit sept 30 2022 peloton’s stock has suffered a fall from grace since the company went public in september 2019 with an initial public offering price of 29 a share the shares finished as high as 16742 jan 13 2021 buoyed by strong demand for its equipment as the stayhome economy roared on during the pandemic but demand for peloton bikes cooled in a big way as the economy reopened and the company has been trying to find its footing in the new reality the latest piece of bad news for peloton is a recall of 22 million of the company’s original exercise bikes in the us the company announced the recall thursday morning alongside the us consumer product safety commission though peloton also said it would offer all affected owners a new seat that they could install themselves to fix the safety issue see more peloton is recalling 2 million exercise bikes due to injury risks and its stock is slipping though peloton’s losses have been narrowing its shares have dropped 50 over the past three months as the company continues to face broader challenges peloton disclosed a 75 million patentinfringement settlement with dish network corp dish alongside its last earnings report earlier in may and expects that this settlement “will significantly pressure” freecash flow for the current quarter while also eliminating an overhang on the shares