Peloton Interactive (PTON, Financial) detracted from relative returns. Shares have pulled back because of concerns indicating sluggish hardware sales despite high expectations as lockdowns have eased. We are concerned by the company’s response to tragic events involving its treadmills, potentially putting its brand reputation at near-term risk. We exited Peloton during the quarter.
From Spiros Segalas (Trades, Portfolio)' Harbor Capital Appreciation Fund second-quarter 2021 commentary.
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