And just like that, Peloton stock rises again after sharp dip

2 min read | December 13, 2021 09:20 AM EST | By Raza Naqvi

And just like that, Peloton stock rises again after sharp dip — Image source: © Solarseven | Megapixl.com

What happened to Peloton's shares?

After the premiere episode of the 'Sex and the City’ (SATC) reboot- And Just Like That, showed one of the characters dying after a workout session. Mr Big, one of the most popular characters of SATC, dies in the first episode due to a heart attack after riding on his Peloton.

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Following the episode release, investors responded negatively and started selling Peloton's shares. The stock hit a 52-week low of US$ 37.67 on December 10 after it had declined 11 per cent on December 9.

Peloton tried to clear the air and went into damage control mode. The stationary bike company released a statement and said that their product was likely not responsible for the fictional character's death.

Dr Suzanne Steinbaum, a member of Peloton's health and wellness team and a cardiologist said that Mr Big's extravagant lifestyle, which included consumption of cigars, steaks, and cocktails were responsible for his health condition and he had a previous cardiac event in Season 6.

On December 12, Peloton released an advertisement featuring Chris Noth, who plays the character of Mr Big. The ad brings the character back to life and probably due to this reason, the share price was up to during pre-market hours.

Bottom line

In the first quarter of fiscal 2022, Peloton generated total revenue of US$ 805.2 million, an increase of 6 per cent year-over-year (YoY).

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Meanwhile, the subscription revenue was US$ 501 million in Q1 2022, down by 17 per cent in comparison to the first quarter of fiscal 2021.

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