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These 5 'stay at home' stocks are getting pounded as the US economy reopens

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  • Popular "stay at home stocks" are getting pounded as the US starts reopening its economy after sweeping lockdowns to curb the spread of coronavirus.
  • As of Memorial Day weekend in the US, all 50 states had relaxed at least some restrictions set in place in mid-March to contain COVID-19. 
  • Here are five "stay at home" stocks that are slumping as the US economy reopens. 
  • Read more on Business Insider.

A group of popular "stay at home" stocks are slumping as investors cheer the US economy reopening.
In March, the US went into strict and sweeping lockdowns to contain the spread of the new coronavirus, sending millions of workers home and closing businesses across the country. That sent a group of "stay at home" stocks climbing, as investors piled into shares of companies that consumers would most likely rely upon to wait out the pandemic.
But over the last month, states have been slowly reopening parts of their economies, allowing consumers to venture out of their homes again. As of Memorial Day weekend in the US, all 50 states had relaxed at least some of the sweeping lockdown restrictions.
That's sent investors rushing out of stocks they'd piled into roughly two months earlier that were poised to gain amid the lockdown. The losses were concentrated in tech stocks, with Netflix and Zoom leading the pack, and pulled the Nasdaq lower in intraday trading Wednesday.
Read more: GOLDMAN SACHS: Buy these 25 stocks that are wildly popular with hedge funds — and have crushed the market this year
On the flip side, stocks that were punished amid the coronavirus lockdowns rallied Wednesday — shares of major cruise lines gained at least 10%.
Here are five popular "stay at home" stocks and how much they've slumped in the five trading sessions since May 20 through intraday lows Wednesday.

1. Netflix

Ticker: NFLX
% change since May 20: -11%

2. Zoom Video Communications

Ticker: ZM
% change since May 20: -15%

3. Peloton

Ticker: PTON
% change since May 20: -15%

4. Shopify

Ticker: SHOP
% change since May 20: -12%

5. Teladoc Health

Ticker: TDOC
% change since May 20: -14%

* This article was originally published here
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