Pandemic darlings face the boot as investors eye return to normal life

Stay-at-home market darling Netflix slumped on Friday, joining a broad decline in the market value of other pandemic favourites this week as investors priced in expectations for a return to normalcy as more countries gradually relax Covid-19 restrictions.
 
The selloff which began after Netflix and Peloton posted disappointing quarterly earnings spread to the wider stay-at-home sector as analysts judged the new Omicron coronavirus variant will not deliver the same economic headwinds seen in the first phase of the pandemic in 2020.

Peloton shares lost nearly a quarter of its value overnight wiping off nearly $2.5 billion in market