Netflix sinks as Wall Street flees stay-at-home stocks dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
NEW YORK - One day after shares of at-home fitness company Peloton tumbled, Netflix found itself in Wall Street's hot seat Friday as markets reassess the diminishing growth prospects of so-called "pandemic stocks."
NEW YORK, Jan 22 One day after shares of at-home fitness company Peloton tumbled, Netflix found itself in Wall Street’s hot seat yesterday as markets reassess the diminishing growth prospects of so-called “pandemic stocks.” The streaming video service lost some US$40 billion (RM167.4.
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Exercise bike maker Peloton Interactive Inc said on Monday it would buy peer Precor in a deal valued at $420 million as it looks to boost its U.S. manufacturing capacity and market share for fitness products.
Peloton’s shares, which have gained more than 400% this year, rose another 8% after the bell.
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Demand for streaming exercise services and home work-out equipments soared during the COVID-19 pandemic from people largely working from home.
Market movers: Stocks seeing action on Tuesday - and why theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.