By Christiana Sciaudone
Investing.com -- If even having Beyonce on your side isn't enough to pull out a win, it's looking pretty bad for the rest of humanity.
Peloton (NASDAQ:PTON) sank 6% even after announcing a long-term deal with the songstress. Shares did recover some and are trading little changed.
The exercise bike maker fell some 20% on Monday after Pfizer (NYSE:PFE)'s announced that its Covid-19 vaccine candidate is 90% effective, and markets celebrated the real possibility that we will finally be unleashed from lockdown.
Peloton reported strong results last week, but is facing challenges in keeping up with demand.
Beyonce and Peloton have created a series of themed workout experiences to help extend Homecoming season at Historically Black Colleges and Universities. Peloton members, of which there are more than 3.6 million, will have access to classes across multiple categories, including indoor cycling, running, strength, bootcamp, yoga and meditation.
As part of the partnership, Beyonce and Peloton will gift two-year Peloton Digital memberships to students at 10 of the schools. The classes will be available for use with or without a Peloton bike. Peloton will also pursue long-term recruiting partnerships at both the internship and undergraduate levels at the schools.
In the coming months, Beyonce will continue to work closely with Peloton on class curation across all workout disciplines.