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Netflix, Peloton Bring Pandemic-Stock Era to Shuddering Halt
Posted
January 21, 2022
Views
500
Likes
12
Engagement
2.40%
January 21, 2022
500
12
2.40%
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0:52Now PlayingThe Covid-19 pandemic isn’t over yet, but the boom it helped create for stay-at-home stocks is vanishing.
Netflix Inc. and Peloton Interactive Inc., two of the highest-profile stars of the lockdown era, both plunged Thursday -- the latest sign that investors have moved on from the so-called pandemic trade. Netflix expects to add a paltry 2.5 million users in the current quarter, well short of estimates. Peloton, meanwhile, is slashing costs to cope with slowing demand for its stationary bikes.
Netflix shares were down about 20% in premarket on Friday, holding the drop seen in late trade on Thursday. If the loss sticks, it would be the stock’s biggest drop in almost a decade. Peloton shares were up 5% in premarket after sinking 24% on Thursday.
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