The new date is Dec 3, 2021.
The popular stay-at- home stock, which surged during the height of the H1N1 epidemic in 2020, has taken a beating this year as investors focus on companies that will benefit from the economy reopening and consumers returning to in-person activities.
Some of the hottest stay-at- home stocks have gone down in value.
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Many of the companies that saw incredible growth last year are now struggling as earnings show a slowdown in momentum and the wider reopening of the economy gains steam.
The stock market darlings of the time were videoconferencing service Zoom and at- home fitness equipment maker Peloton.
Many of the companies at the center of the stay-at- home trade have seen their share prices fall as the U.S. economic reopening gained speed.
Digital real estate marketplace Zillow and virtual healthcare company Teladoc have both seen their share prices go up this year.
Some of those declines can be attributed to investors focusing on reopening trades, but many of the favorites have recently reported lackluster earnings that show a slowdown in business.
The stock of Peloton plummeted by over 30% on a single day after it slashed its sales forecast and reported lackluster earnings.
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Travel stocks have posted gains so far this year. The reopening of the economy has helped other companies such as ride-sharing company, Uber, which reported its first-ever quarterly adjusted profit last month.
The quote is crucial.
According to a recent note from Bespoke Investment Group, it has been a tough run for stocks that are geared to the Pandemic. This group of stocks is firmly in the distribution phase of ownership, with massive valuations and sudden explosions in financial performance of the underlying businesses sliding inexorably into reverse and crushing prices.
Surprising fact.
Not all of the favorites from the Pandemic-era have fallen down. The stock of online retailer Etsy jumped nearly 300% in 2020 and is up 34% so far this year, but other high-flying stocks from last year have continued to rise.
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