Peloton shares plunge as it halts production

Peloton shares have plummeted following a report that it has been slowing - and in some cases halting - production of its pricey exercise machines.

The company, which saw demand soar during the pandemic, is now stuck with a glut of bikes and treadmills, CNBC reported, citing internal documents.

Investors sold off shares at the sign of waning popularity, forcing the firm's stock price down more than 20%.

Peloton did not immediately respond to a request for comment from the BBC.

The firm had struggled to keep up with orders at the start of the pandemic.