The video conferencing software Zoom—the go-to app for meetings and classes during the pandemic—is not doing so well these days.
With people going back to the office (because companies are calling them back), Zoom’s stocks have seen a sharp decline this week—almost 16%. The home exercise company, Peloton’s shares fell around 18% since gyms are open again.
During the COVID-19 pandemic, shares of companies like Zoom, Peloton and Shopify soared.
- Zoom and Peloton both were up by 400%.
- Shopify shares rose by almost 200%.
But today these companies aren’t doing as well and are trying to figure a way out. And Peloton is leading the way. Moving away from its e-commerce website, the home exercise company has decided to sell its workout equipment on Amazon.