Netflix, Peloton bring pandemic-stock era to a shuddering halt

The Covid-19 pandemic isn’t over yet, but the boom it helped create for stay-at-home stocks appears to be vanishing.

Netflix Inc. and Peloton Interactive Inc., two of the highest-profile stars of the lockdown era, both plunged Thursday -- the latest sign that investors have moved on from the so-called pandemic trade. Netflix expects to add a paltry 2.5 million users in the current quarter, well short of estimates. Peloton, meanwhile, is slashing costs to cope with slowing demand for its stationary bikes.

Netflix shares were down 21% in premarket on Friday, following a similar drop in late trade on Thursday. If the