Investors price in expectations for a return to normality as more countries gradually relax Covid-19 restrictions
London — Stay-at-home market darling Netflix slumped on Friday, joining a broad decline in the market value of other pandemic favourites this week as investors priced in expectations for a return to normality as more countries gradually relax Covid-19 restrictions.
“What we think is very interesting is that Omicron, because of its very high infectiousness, very low morbidity compared to previous waves such as the Delta variant, might actually be the first tangible sign that the pandemic is evolving in the direction that we all expected, that is that it would become a manageable endemic disease like the flu.”
Shares were down 20% in premarket trading with the stock set to open at its lowest level in 21 months. According to data from S3 Partners, short-sellers doubled their profits by betting against Peloton in 2021, the third-best returning US short.
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