Peloton Interactive Inc (NASDAQ: PTON) shares traded lower by another 5% on Wednesday after the company responded to a holiday ad that began airing last month that recently went viral on Twitter for what some critics claim is sexist and classist content. The stock fell 9% in Tuesday's session.
On Wednesday, Peloton said the company is “disappointed” in how some viewers are interpreting the ad.
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The ad features a husband gifting his wife a Peloton exercise bike and chronicles her year of subsequent workouts. At the end of the ad, the wife re-gifts the husband a video chronicle of her year-long workout journey.
“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 Peloton spokesperson told CNBC. “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's stock remains up more than 26% overall in the past month. Shares traded around $31.97 at time of publication.
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