© Ezra Shaw/Getty Images A person rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California. Peloton shares sank 20% Thursday after it was reported to have temporarily halted production of its bike and treadmill products because of waning consumer demand. CNBC reported that Peloton plans to pause production of its $1,495 lower-end bike for two months and it's not making anymore Tread machines for six weeks beginning in February. Production of its Bike+, the higher-end bike that costs $2,495, was halted in December and won't resume until June, according to the report. The news came a few days after Peloton quietly hiked the prices of its Bike and Tread beginning January 31.

Source: CNN January 20, 2022 21:02 UTC