Bulletins

Work-from-home stocks tank on good vaccine news

A vaccine might be good news for the world, but it isn't good news for Zoom. When Pfizer announced its COVID-19 vaccine was more than 90% effective, Zoom's stock instantly plummeted.

And Zoom, which was down more than 11% in premarket trading as of 7:30 a.m. ET Monday, wasn't the only "stay at home" stock to drop. Peloton dropped more than 9%, while Etsy and Netflix were down more than 5%. Even Amazon was hit, with a 1.4% fall. The market movements were a reminder that as the world goes back to normal, tech may face an uphill battle.

 Shakeel Hashim

Shakeel Hashim ( @shakeelhashim) is a former growth manager at Protocol, based in London. He was previously an analyst at Finimize covering business and economics, and a digital journalist at News UK. His writing has appeared in The Economist and its book, Uncommon Knowledge.

Latest Bulletins

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Bulletins