![]() ![]() ![]() Both stocks have lost more than half of their market values from record highs and slid further after Netflix’s results. Zoom Video Communications Inc., the owner of the ubiquitous videoconferencing software, is trading at the lowest level since May 2020, as is e-signature company DocuSign Inc. ![]() The two companies are the latest darlings of 2020 to sink to levels not seen since the early days of the Covid-19 outbreak, when investors first deduced that lockdowns and easy-money policies from the Federal Reserve were going to send stocks like Netflix soaring. Peloton shares were up 7% in premarket after sinking 24% on Thursday. If the losses hold, it would be the stock’s biggest drop in almost a decade. Netflix shares were down 21% in premarket on Friday, following a similar drop in late trade on Thursday. Peloton, meanwhile, is slashing costs to cope with slowing demand for its stationary bikes. Netflix expects to add a paltry 2.5 million users in the current quarter, well short of estimates. 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. ![]()
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