‘Unwoke’ Peloton stock now roaring back as Americans go stir crazy in coronavirus lockdown
Less than three months after an infamous holiday commercial wiped out $1 billion in Peloton’s market value, the company’s stock is bouncing back – along with the makers of toilet paper and canned goods – amid Covid-19 lockdowns.
The makers of pricey stationary exercise bikes – and the subscription workout program that comes with them – fell on their face back in December, when their holiday commercial intended to be cute was denounced as misogynist, fat-shaming, sexist, and creepy. Peloton offered a groveling apology and removed the video after their stock took a dive amid the rancor.Also on rt.com Boom Bust investigates how one ad could wipe out $1 billion of Peloton stock
Fast-forward to mid-March, and Peloton is one of the few stocks actually going up during the Covid-19 pandemic, as Americans stuck at home as a result of lockdowns and quarantines look for something to do. The markets are crashing and burning as supply chains are disrupted and panicked investors sell off their holdings, but Peloton has held strong, seeing its stock price rally by more than 12 percent on Monday.
We're all the Peloton Wife right now pic.twitter.com/NsGR6RpXwe— Sammy Rhodes (@sammyrhodes) March 16, 2020
The fitness gear company is not the only one reaping a windfall as millions are holed up at home waiting out the pandemic. With toilet paper inventories nearly wiped clean in some cities after fits of panic buying, the Kimberly-Clark Corporation – maker of several well known toilet paper brands, among other personal hygiene goods – has seen major gains over the last week. Clorox has enjoyed a surge in business, too, with the virus scare driving some to douse everything in sight with the company’s disinfectants.
Seeing as bleach and toilet paper cannot be eaten… producers of canned and frozen foods have also seen sales take off amid the lockdowns.
Apparently realizing the good the virus has done for business, Peloton made its fitness app free for the next 30 days, inviting consumers to find a “supportive community” among fellow health nuts as they fend off cabin fever together.
If you’re in need of a supportive community and a way to clear your mind, we invite new users to try the Peloton App free for the next 90 days. Click here to get yoga, meditation, strength, stretching, and bodyweight training in your own home: https://t.co/LQ5G5Aeic8pic.twitter.com/e6pS22yvn0— Peloton (@onepeloton) March 16, 2020
With netizens stuck indoors without much to do – besides exercise, of course – some used their extra free time in the most productive way possible, devising a brand new conspiracy theory that connects the dots between Peloton and the coronavirus outbreak. What do they know, and what are they hiding from us?
new conspiracy theory : due to that weird commercial, peloton has fallen back on their sales. in an effort to increase sales, they made a virus that forces ppl to stay in their house and can’t use the gym. so buying a peloton is a great way to stay active during the quarantine!!— jenny t (@jrtyszka) March 16, 2020
what did peloton husband know and when did he know it https://t.co/l8elDt0pIK— Josh Billinson (@jbillinson) March 16, 2020
i read this headline in the voice of Bane— Eleanor Penny (@eleanorkpenny) March 12, 2020
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