Peloton the maker of expensive in home exercise equipment faced backlash and a slight stock price drop after online criticism for the company s latest holiday commercial boiled over earlier. Digital health firm peloton which makes a newfangled internet connected exercise bike went public and promptly saw its stock fall.
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While we re disappointed in how some have misinterpreted this commercial we are encouraged by.
Peloton stock drop. Our holiday spot was created to celebrate that fitness and wellness journey a company representative said in a statement to the times. On tuesday peloton tumbled 9 amid backlash to its holiday ad. Folks called the ad sexist and also said it perpetuated diet culture.
It has cost peloton more than 1 billion with. Peloton has insisted that the stock drop wasn t related to the ad which it is still standing behind. After releasing a holiday ad for its stationary bike peloton was criticized online and its stock dropped as much as 10 percent.
Regardless of the company s intention peloton s stock fell 10 5 from the closing price on monday before the social media frenzy to wednesday. About 10 600 january 50 calls which give traders the right to buy the stock at 50 in the coming weeks were traded. Short seller citron research said tuesday it expects the stock to plunge nearly 85.
The backlash to the ad called the gift that gives back is worth monitoring as is peloton s response said. That fall erased 942 million from peloton s market value. Peloton dropped as much as 10 the most intraday in about two months.
Left is shorting the stock betting that peloton shares will fall and predicted the company s shares will drop to 5 by the end of next year. It was also the biggest single day drop for the company. Some traders are betting peloton s stock drop will be short lived.
That would be an 86 drop from where the share. Peloton may have bigger problems than the public relations fallout from the controversial ad that became a meme.
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