Pandemic darlings fade as investors eye return to normal life...
from Drudge Report
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LONDON (Reuters) -Stay-at-home market darling Netflix slumped on Friday, joining a broad decline in shares of other pandemic favourites this week as investors priced in expectations for a return to normal life with more countries gradually relaxing COVID 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. "This a confirmation that the economy is gradually moving towards some sort of normalisation," said Andrea Cicione, head of strategy at TS Lombard.