FAST FIVE: Seeing Red: Is The Heydey Of Pandemic Stocks Over?
In fact, search interest for the term “selloff” recently reached peak interest of 100.
It also projects to have slower year-over-year subscriber growth in the near term, citing competition from other streaming companies.
The contagion also spread to other pandemic stocks, such as Zoom and DocuSign, as investors began to doubt the staying power of stay-at-home stocks.
Investors are worried that rising rates will negatively impact high-growth stocks, because it means it's more expensive to borrow money.
The psychology of the market cycle also plays a role-amid these fears, investors have adopted a herd mentality and begun selling their shares in droves.