Pandemic stock winners now losers as WFH ends

Netflix was one of the big winners in a time of lockdowns.

It added millions of users, and saw revenues soar.

But as the world edges back towards normality, some think lockdown winners now look like losers.

Netflix shares tumbled nearly 20% after it warned that subscriber growth would be less than half of analyst predictions.

It was a similar story at Peloton.

Shares there dropped by almost a quarter after it said it was resetting production and reviewing staff numbers.

That as fitness fans head to the gym instead of using its gear.

Data from S3 Partners show short sellers have made big profits by betting against the firm.

Other big names like communications platform Zoom are also in traders' sights.

A fund run by Direxion that tracks work-from-home stocks has dropped 9% so far this year, compared to a 6% fall for the broader U.S. market.

And it's a similar story in Europe.

Online supermarket Ocado and takeaway app Delivery Hero - both lockdown champions - have underperformed markets so far this year.

German meal-kit delivery service HelloFresh has also suffered.

Now the question is whether lockdown losers - including airlines and travel firms - might start to regain their appeal.