Nasdaq's Big Bounce Leaves These 2 Stay-at-Home Stocks Behind
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has seen its share of big drops followed by big rebounds, and Thursday was merely another instance of that phenomenon. After dropping considerably on Wednesday on fears about the COVID-19 pandemic and uncertainty regarding the upcoming election, the market managed to get its optimism back today. As of just after 2:30 p.m. EDT, the Nasdaq was up nearly 2.5%.
Conspicuously absent from the rally, however, were a couple of stocks that have done extremely well so far in 2020. Both of these companies have risen because of what they offer people who have had to stay home rather than returning to work or leisure activities. Even with COVID-19 concerns on the rise, Peloton Interactive (NASDAQ: PTON) and Zoom Video Communications (NASDAQ: ZM) saw some considerable declines on the Nasdaq on Thursday.
Shares of Peloton Interactive were down more than 5%. The connected treadmill and stationary bike manufacturer has had some big victories because of the closures of gyms and fitness centers and the need for people to find ways to exercise. However, the company got a vote of no confidence from a prominent investment research company.
Source Fool.com
