Peloton Share Price Rebounds After Parody Ad: ‘And Just Like That…’ Character Death Preceded Stock Tumble
After one of the fictional protagonists of the much-anticipated “Sex and the City” reboot, “And Just Like That…,” died of a heart attack following a Peloton ride during a recent episode, the company’s stock immediately tumbled. In response, the company has released a parody ad.
After the episode aired, Peloton shares fell to their lowest level in 19 months on Friday, Dec. 10 — wrapping up a five-trading-day losing streak that saw its stock slump more than 10%, The Street reports.
Credit Suisse’s Dec. 10 downgrade of Peloton (to neutral from outperform) also hit the stock. Peloton was a success in the early days of the pandemic, but some analysts have cited demand headwinds including higher mobility, a shift in consumer spending and the return of in-person fitness as harbingers of low growth — or no growth — in 2022, according to Seeking Alpha.
“I’m sure SATC fans, like me, are saddened by the news that Mr. Big dies of a heart attack. Mr. Big lived what many would call an extravagant lifestyle — including cocktails, cigars, and big steaks — and was at serious risk as he had a previous cardiac event in Season 6,” the company detailed in a statement from cardiologist Dr. Suzanne Steinbaum to Us Weekly. “These lifestyle choices and perhaps even his family history, which often is a significant factor, were the likely cause of his death. Riding his Peloton bike may have even helped delay his cardiac event.”
In a parody ad posted to Twitter on Dec. 12, accompanied by text reading “and just like that, he’s alive,” Chris Noth (the actor who portrays Mr. Big) joins Jess King (who plays a Peloton instructor in the HBO show) and tells her he feels great.
“Shall we take another ride? Life is too short not to,” Noth says, followed by a voiceover provided by fellow actor Ryan Reynolds. Reynolds adds: “And just like that, the world was reminded that regular cycling stimulates and improves your heart, lungs and circulation… Cycling strengthens your heart muscles, lowers resting pulse and reduces blood fat levels. He’s alive.”
The ad seems to be working so far, as Peloton shares were up in pre-market trading.
More From GOBankingRates