Deadly cameo: Peloton sinks in the stock market after appearing in the return of ‘Sex and the City’

Appearing in a television series can make or break any company. It all depends on the role assigned within the plot. In the case of Peloton, which key character in Sex in New York die after a spinning session on one of his bikes has made the sale go up like foam, but of his shares. The day of the premiere of the series, now titled And Just Like That (And so suddenly), the company fell 11.3% on the stock market, followed by another 5.38% drop on Friday to $ 38.52.

Quickly, Peloton started all the machinery to try to control possible damage to his image. Company spokeswoman Denise Kelly assured Buzzfeed that they had approved the use of one of their bikes in the pilot episode of the new HBO series, but that They did not know what role he was going to play within the plot “for confidentiality reasons”.

Likewise, Peloton wanted to unlink the death of the character with his bicycle. To do this, he issued a statement in which they indicate the cause of death the character’s unhealthy lifestyle and genetics, who had already suffered a heart attack in the sixth season of the original series. In the statement, signed by the preventive cardiologist and member of the company’s Health and Welfare Advisory Council, Suzanne Steinbaum, it also assured that the bicycle could have been responsible for having prolonged his life, by delaying that cardiac episode.

Founded in 2012 in the United States, Peloton lived its golden moment during the pandemic. The company offers spinning classes under subscription, as if it were Netflix, which you can only access if you also purchase one of their exercise bikes. Given mobility restrictions, the need to maintain distances, and the boom for healthy living, Platoon saw its actions shift from be worth nearly $ 25 before the pandemic to exceed $ 160 by the end of 2020.

Since then, Peloton has fallen a 73.62%, victim of the reopening of gyms and the possibility of spending money on other activities outside the home. Against this backdrop, Credit Suisse analyst Kaumil Gajrawala has downgraded his rating on the company’s shares from overweight to hold. Additionally, it has lowered its price target to $ 50, from $ 112 previously.