And just like that, Peloton Interactive (PTON) - Get Peloton Interactive, Inc. Class A Report shares were on the rise Monday after the at-home exercise company released a follow-up parody ad providing clarity that it’s Internet-connected exercise bikes don’t necessarily cause people to drop dead.
Peloton shares fell to their lowest level in 19 months on Friday, wrapping up a five-trading-day losing streak that saw its stock slump more than 10%, after a character in the Sex and the City reboot And Just Like That... died after using one of the company's devices in the pilot episode. after slumping nearly 10% over the past five trading days.
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In the episode, the character known as Mr. Big, played by Chris Noth, suffers a heart attack and dies after his 1,000th workout. The event shocked long-time fans of the show, and seemingly gave investors in the company a shock, too, for making a link between the company's eponymous exercise bike and the possibility of a heart attack.
In a statement Friday, Peloton tried to deflect from the story, noting that the character's use of the device "may have even helped delay his cardiac event."
"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," the company said in a statement cited by Us Weekly.
"These lifestyle choices and perhaps even his family history, which often is a significant factor, were the likely cause of his death."
Peloton, which gave permission to the show for the product placement but was not aware of the context of the appearance until the show aired, doubled down on its efforts to regroup from the negative publicity by releasing a follow-up ad that showed Noth to be very much alive.
In a video posted Sunday to the Peloton Twitter account, Noth and Peloton instructor Jess King sit before a roaring fire and toast to new beginnings. She says he looks great. "I feel great," he replies.
"Should we take another ride?" Noth then asks. "Life's too short not to."
As they gaze at each other, an announcer — Canadian actor and icon Ryan Reynolds, whose marketing company, Maximum Effort, created the video — cuts in to go over all the health benefits of regular cycling, rushing to add, "He's alive."
At last check, shares of Peloton were up 2.44% at $39.45, recovering from a five-trading-day downturn that shaved nearly 10% off its stock price. The shares are still down more than 73% year to date.