Peloton has responded to the heavy criticism of its holiday ad.
In a statement to CNBC, a spokesperson said the company "was disappointed in how some have misinterpreted this commercial."
The ad, which was released on YouTube on November 21 and is being shown on TV, caused an uproar of negative feedback online. People criticized the ad for many reasons, including what they saw as a possibly sexist message. It follows what appears to be a woman's yearlong selfie journey after her partner gave her a Peloton bike for the holidays, an action a lot of viewers took issue with.
The Raymond James analyst Justin Patterson said in a note that he expected the company to pull the ad "due to the online furor," though he predicted it would not affect the company's sales.
Peloton stocks plummeted more than 9%, or $3.36, on Tuesday.
Peloton did not respond to Business Insider's multiple requests for comment on the backlash to the ad.
Read Peloton's statement to CNBC below:
We constantly hear from our members how their lives have been meaningfully and positively impacted after purchasing or being gifted a Peloton Bike or Tread, often in ways that surprise them. 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.
