Can omicron turn around Peloton, one of the year’s worst performing stocks?
Peloton, a high-flyer during the first year of the pandemic, has been one of the worst performing stocks in 2021 as people return to offices and gyms. Will the omicron variant of Covid-19 give the exercise company’s shares a second wind?
Peloton stock jumped 6% on Nov. 26 as traders dumped travel-sensitive shares of carriers like Delta Air Lines and major lenders like Bank of America, whose fortunes are tightly linked to economic growth. Experts are racing to assess how lethal and transmissible omicron is compared to other variants of covid-19, which will determine whether renewed lockdowns and travel restrictions will be needed. The exercise company’s shares drooped again in trading today (Nov. 29) as the investors in the overall stock market regained enthusiasm and recovered some of last week’s losses.
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