Zoom and other stay-at-home tech stocks rise on new Covid variant fears

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  • Shares of Zoom were up more than 10% before the market opened on Friday morning as a new Covid version raised concerns in South Africa.
  • Peloton stock rose more than 8% before the market opened, while Etsy, Shopify, Roblox, Netflix and Roku also showed smaller gains.

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Shares of Zoom were up more than 10% before the market opened on Friday morning as a new Covid version raised concerns in South Africa. Other stocks that benefited from the stay-at-home trend during the pandemic were also up.

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Peloton stock rose more than 8% before the market opened, while Etsy, Shopify, Roblox, Netflix and Roku also showed smaller gains. Meanwhile, the shares of the companies which have benefited from the reopening are declining.

Expedia was down more than 7% this morning, while Lyft, Airbnb and Uber stocks were down more than 5% before the market opened.

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Travel companies like Delta, Airbnb, Expedia all pointed to clear signs of recovery in recent earnings reports and stay-at-home stocks like Peloton, Zoom and Netflix amid signs of covid-19 amid signs of it taking off from earlier in the month. is opposite. The end of the pandemic may come sooner than expected.

If the momentum holds up then Zoom could erase the losses from earlier in the week. Shares of Zoom closed down 14.7% on Tuesday after the company warned investors of a revenue slowdown and Wall Street firms cut price targets on the stock.

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