Technology

Peloton stock plunges 15 percent amid ad controversy

In-home fitness equipment company Peloton's stock has dropped 15 percent this week over controversy surrounding a recently released ad.

In the process, the company has lost more than $1.5 billion in market value, Business Insider reports.

The ad, titled "The Gift that Gives Back," features a woman showing a video diary to her male partner detailing the year she spent using the Peloton that he gave her.

The ad has gone viral since its Nov. 4 release, getting more than 4 million views on YouTube.

However, the response from consumers has been overwhelmingly negative, with many critics calling the ad sexist and dystopian.

Critics of the ad who called it sexist argued the ad gives the impression that the male partner wanted the woman to lose weight.

Other critics cited that the woman in the ad looks fearful and that the ad, as a whole, gives off horror film vibes.

Comedian Jess Dweck tweeted that the ad reminded her of an episode of the popular show "Black Mirror."

"Peloton missed the mark, and social commentary is largely negative," analysts at Raymond James told Business Insider.

Despite the backlash, the company has not yet removed the ad from the internet.

In defense of the ad, a spokesperson for Peloton said in a statement: "Our holiday spot was created to celebrate that fitness and wellness journey."

"While we're disappointed in how some have misinterpreted this commercial, we are encouraged by - and grateful for - the outpouring of support we've received from those who understand what we were trying to communicate."

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