How Has Peloton Been Doing After the “And Just Like That…” Premiere?

The premiere of And Just Like That… didn’t end well for Peloton – literally. The final scene of the show ended with the popular character Mr. Big (played by Chris North) dying from a heart attack immediately after completing his thousandth ride on his Peloton stationary bike.

Like many during the pandemic, the character Mr. Big turned to his Peloton bike and virtual trainer when the local gyms shut down. This new exercise program quickly led to an obsession, which some, including his on-screen love, Carrie, have connected to his untimely death.

Peloton insists this was not a product placement and has done well to relate the fact that its equipment is safe to use and can actually help to prevent heart attacks. One still can’t help but wonder if Mr. Big’s demise left any lasting effects on Peloton stock.

Its stock did indeed drop the day after the premiere aired, as its rates fell from $40.70 to $38.51 per share, but to be fair, Peloton stock prices have been falling all year. In fact, its stocks have dropped 76% in 2021. It’s probably unfair to base any Peloton stock decrease on just one episode when the company has been facing a multitude of struggles all year.

First of which is a drastic drop in sales. Of course, this should have been expected. As gyms began to reopen, people were no longer satisfied with staying at home. However, this drop has been so significant that Peloton had to reduce its forecasted sales levels by $1 billion. This is a huge drop that certainly makes investors nervous.

That’s not all, Peloton also had to deal with product recalls after reported injuries as well as a patent infringement lawsuit recently filed by Lululemon.

At least Peloton is taking ownership of its sales decline and states that it is taking measures to reestablish itself in 2022 and 2023. This strategy has been enough so far to keep stock analysts from jumping ship, as most still forecast a 12-month stock rate of around $74 compared to today’s starting price of $37.19.

The good news is that Peloton seems to be well-received by its customers. So, if the company is able to rebrand itself and convince enough consumers to invest in home fitness equipment, the company still has plenty of life left.