U.S. Sen. John Hickenlooper’s wife Robin Pringle purchased up to $15,000 of Peloton stock as shares sagged following a product recall tied to the fitness company’s treadmills, Business Insider reports.
The company has come under federal scrutiny, with the US Consumer Product Safety Commission telling consumers to stop using Peloton’s Tread+ treadmill around pets and small children. A child recently died in an incident involving such a treadmill and others have been injured.
Federal records indicate Pringle Hickenlooper’s purchase of Peloton stock came on May 4, when the stock, which has shed nearly half its value since mid-January, was trading near a low point for 2021.
The Consumer Product Safety Commission said in April they were aware of aware of at least 39 incidents tied to the treadmills, including a death reported in March and injuries to small children and a pet.
That news along with the company’s earlier treadmill recall in March sent the stock plummeting before Pringle picked up her shares a few weeks later on May 4th.
Peloton announced on its latest earnings call that it was launching a voluntary recall of the Tread and Tread+ (its premium treadmill offerings) after a child was killed using the equipment. This news sounded bad and sent the stock down close to $80 per share, or down 45% year to date.
Hickenlooper’s wife is required to disclose her trading activity due to transparency rules governing the finances of Congressional spouses.
As of Peloton’s close June 8, Pringle is up over 13% on her Peloton trade.
Hickenlooper’s office did not respond to Business Insider’s requests for comment.