Netflix and Peloton were two of the biggest pandemic winners, along with video call provider Zoom Video and electronic signature firm DocuSign. Now, the pandemic boom is over.
A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.London When the coronavirus pandemic swept across the world in 2020, investors responded by pouring money into companies that would benefit from people spending much more time at home.
Netflix and Peloton were two of the biggest pandemic winners, along with video call provider Zoom Video and electronic signature firm DocuSign .Now, the pandemic boom is over.Netflix and Peloton lost roughly a fifth of their market value on Thursday after both companies disappointed investors. Netflix said in an earnings report that it added fewer subscribers than expected during the fourth quarter. Even more worrying, the streaming giant predicted that it would add just 2.
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