NewsBreak: Peloton Sinks Again as It Stands up for Controversial Ad
Investing.com
Published Dec 04, 2019 01:46PM ET
Updated Dec 04, 2019 02:11PM ET
Investing.com - Peloton (NASDAQ:PTON) Interactive erased its gains in afternoon trading Wednesday as the company pushed back against severe criticism of its holiday ad.
- Peloton (NASDAQ:PTON) shares were down nearly 6.5% after starting the day higher. The stock fell 9.1% on Tuesday over the ad that some viewers claim is sexist. Critics have asked that the ad, which depicts a woman recording a video diary of an exercise bike her partner gave her, be taken down.
- “We constantly hear from our members how their lives have been meaningfully and positively impacted after purchasing or being gifted a Peloton Bike or Tread, often in ways that surprise them,” a company spokesperson told CNBC by email. “Our holiday spot was created to celebrate that fitness and wellness journey. While we’re disappointed in how some have misinterpreted this commercial, we are encouraged by -- and grateful for -- the outpouring of support we’ve received from those who understand what we were trying to communicate.
- Peloton (NASDAQ:PTON) went public on Sept. 26 at $29 and struggled below that level through October. The shares rose 47.6% in November. They are still up 8% from the IPO price.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.