The home-exercise company’s bicycle was featured in a critical plot point in the first episode, where a main character dies while riding one. Shares of the company are down 73 per cent this year, and fell more than five per cent at the close Friday. (CNBC)
Talking point: In a response to the Los Angeles Times, Dr. Suzanne Steinbaum, a preventative cardiologist and member of Peloton’s health and wellness advisory council, blamed the death on the character’s “extravagant lifestyle” and confirmed that the company knew of the use of the bike in the show. The company saw growth during the pandemic as people bought more home-fitness equipment amid gym closures. However, sales have slowed down as lockdowns started to lift. The company reduced the price of its original bikes by hundreds of dollars. In May, it announced a voluntary recall of its treadmills, after reports of one death and dozens of injuries. In addition, a Credit Suisse analyst downgraded shares of the bike manufacturer and slashed the price target by more than a half, from US$112 to US$50.