On Tuesday, shares for Peloton fell by more than 9 percent, which coincided with a lot of people making fun of the company's new ad (above) online.
Business Insider says that that drop erased almost $942 million worth of Peloton's market value in just one day. To put that in perspective, the company's market cap was lowered to about $9.4 billion after that drop. Oh, and also it represented its biggest one-day drop since October.
The New York Times reports that blowback may lead Peloton to pull the ad. The stationary bike company had been enjoying a strong end to 2019, as its shares reportedly went up at a good rate in November. By Monday, they had reached an all-time high.
In yet another example of how volatile this all is (and also how Twitter is just a site for reactionary analysis with maybe a few solid jokes) Peloton's shares have started to bounce back by Wednesday morning, though they haven't recovered to their pre-top Twitter trending value.
