The last thing Peloton (PTON) needed was for Mr. Big of “Sex and the City” fame to die after a 45-minute ride.
But alas, that’s what they surprisingly got.
Shares of the at-home fitness equipment maker plunged 11% on Thursday — and another 5% on Friday — as the lead character in the series spin-off “And Just Like That” suffered a surprise heart attack and died following a ride on a Peloton bike.
Peloton reportedly was unaware of the plot twist.
A Peloton spokesperson didn’t reply to Yahoo Finance’s request for comment.
“We have talked about Peloton’s marketing team as being one of the best in the business. They are so good at telling a story both to consumers and to investors. The question now is have they just lost a bit of the narrative,” said BMO Capital Markets analyst and long-time Peloton stock bear Simeon Siegel on Yahoo Finance Live.
Siegel reiterated his Underperform rating and $45 price target on Peloton Friday.
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The news continues a bad run for Peloton, which started several months ago with the recall of its connected treadmill.
Peloton’s stock crashed more than 30% on Nov. 5 after the company said that connected fitness subscribers of 2.49 million was roughly in-line with analyst estimates. The number of workouts on the platform trended lower for the second consecutive quarter. Sales fell well short of analyst estimates, and the company posted a wider loss than expected.
Peloton also slashed its full-fiscal year outlook.
The company sees full-year sales of $4.4 billion to $4.8 million, down sharply from $5.4 billion previously. Peloton expected a full-year adjusted operating loss of $425 million to $475 million. The company had expected an operating loss of $325 million.
Shares are now down 75% year-to-date.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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