Netflix, Peloton Bring Pandemic-Stock Era to Shuddering Halt

Bloomberg Quicktake: Now published this video item, entitled “Netflix, Peloton Bring Pandemic-Stock Era to Shuddering Halt” – below is their description.

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.

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.

Bloomberg Quicktake: Now YouTube Channel

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It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

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Stock ticker: PTON (NASDAQ)
Founder: John Foley

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