Netflix, Peloton Bring Pandemic-Stock Era to Shuddering Halt
- Both stocks tumble after slowing growth jars investors
- The so-called pandemic trade fizzles, even as omicron persists
This article is for subscribers only.
The 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.