Peloton market value plummets after backlash from controversial holiday ad

Peloton/Youtube

Backlash from a controversial holiday ad lost one company nearly $942 million in market value in a single day. 

The ad from exercise equipment company Peloton, features a young woman filming herself working out for a year after receiving a Peloton bike as a Christmas present. Many viewers of the ad labeled it as "confusing, sexist and classist," according to Markets Insider. 

Shares of Peloton fell more than 9 percent on Tuesday. It was the company's biggest single-day drop since October. 

The ad also sparked the creation of several spoof ads, some of which that went viral.