Fly Intel: Top five weekend stock stories

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. The U.S. Consumer Product Safety Commission issued a bulletin on Saturday about the “danger of popular Peloton Tread+ exercise machine after multiple incidents of small children and a pet being injured beneath the machines. The Commission has found that the public health and safety requires this notice to warn the public quickly of the hazard.” The warning comes less than a month after Peloton itself released news of a child’s death by a Peloton Tread+. The agency is continuing to investigate all known incidents of injury or death related to the Peloton Tread+. To date, CPSC is aware of 39 incidents including one death.” Meanwhile, Peloton (PTON) said in a statement that, “The company is troubled by the Consumer Product Safety Commission’s unilateral press release about the Peloton Tread+ because it is inaccurate and misleading. There is no reason to stop using the Tread+, as long as all warnings and safety instructions are followed. Children under 16 should never use the Tread+, and Members should keep children, pets, and objects away from the Tread+ at all times. Peloton was shocked and devastated to learn in March that a child died while using the Tread+. Within a day of learning this news, Peloton notified CPSC. While preparing its report to CPSC, Peloton learned through a doctor’s report to CPSC’s public database that a child had experienced a brain injury. Peloton spoke to the family who reported that and the child is expected to fully recover. Not wanting to delay in notifying Members, on March 18, 2021, Peloton’s co-founder and CEO John Foley sent an urgent reminder directly to Tread+ Members to follow the critical warnings and safety instructions that accompany the Tread+, which state that children, pets, and objects should be kept clear of the Tread+ at all times.” 2. Two men died after a Tesla (TSLA) vehicle that authorities believe was operating without anyone in the driver’s seat crashed into a tree Saturday night north of Houston, The Wall Street Journal’s Rebecca Elliott reported. One of the men was in the front passenger’s seat and the other was in the back seat of the Tesla, which was traveling at high speed along a curve before it hit a tree around 11:25pm local time, Harris County Precinct 4 Constable Mark Herman said in an interview. 3. Coinbase Global (COIN) issued stock at an ideal moment-the value of the cryptocurrency market has doubled in just the past two months, Bitcoin is booming, and institutional investors are scrambling to get in, Avi Salzman wrote in this week’s edition of Barron’s. Coinbase is “the real deal,” a novel company with competitive advantages that have enabled it to increase market share despite fierce rivals, the author contends. The stock may falter in the next crypto downturn, but its current valuation does not look unreasonable, Salzman said, adding that there is good reason to believe the stock could rise significantly. 4. Legendary and AT&T (T) subsidiary Warner Bros.’ “Godzilla vs. Kong” stayed number 1 in its third outing with an estimated $7.7M domestically to hit $80.5M through Sunday. Overseas, the movie grossed another $12.2M for a total of $309.7M and $390.2M worldwide, passing up “Tenet” at $365M. 5. PetIQ (PETQ), ChargePoint Holdings (CHPT), EVgo, Volta, EVbox, O’Reilly Automotive (ORLY) saw positive mentions in this week’s edition of Barron’s.

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