How The 'Sex And The City' Spinoff Caused Peloton's Stock Price To Crash
The reboot of “Sex and the City” has wreaked havoc on Peloton’s stock after a major character suffered a deadly heart attack during the first episode of the series while on one of the fitness company’s bikes.
CNBC reports that Peloton shares fell 11.35% on Thursday, which was the same day of the debut of the SATC spinoff titled “And Just Like That ... ”
“Exercising on a Peloton before his heart attack had little to do with [the character's] death,” Peloton cardiologist Dr. Suzanne Steinbaum said in a statement to Us Weekly. “The good news is Peloton helps you track heart rate while you ride, so you can do it safely."
A Peloton spokesperson said the company was aware that their products would be displayed in the show, although they were unsure how, according to Bloomberg News.
Peloton flourished during the pandemic, recording its only profitable quarters as consumers were unable to go to in-person gyms and eager to work out at home. As gyms are beginning to reopen around the country, however, its stock has been descending all year.
Peloton's market value sits at around $13 billion, as its shares are down 73% for 2021.
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