Peloton stock slumps after morbid product placement in "Sex and the City"
CBSN
Peloton shares slumped on Friday after the premiere episode of the "Sex and the City" reboot gave one of its devices a cameo role that took a decidedly morbid turn.
Shares of the exercise bike company fell more than 5% Friday after plunging as much as 10% in overnight trading. The drop adds to Peloton's recent stock market woes as the shares have lost more than 73% of their value since the year started, battered by a raft of controversies, safety issues and financial headwinds.
And Credit Suisse on Friday cut the company's price target to $50 from $112, with the analyst also reducing the stock's rating to neutral. The reason wasn't the "And Just Like That" reboot, however, but a slowdown in consumer spending that is crimping the company's growth.
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