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Pandemic-favorite brands like Peloton and Zoom taking a hit as world reopens

Cindy Cicchinelli uses her Peloton exercise machine in the workout room of her Pittsburgh town house on Aug. 8, 2021.
Cindy Cicchinelli uses her Peloton exercise machine in the workout room of her Pittsburgh town house on Aug. 8, 2021. Brands like Peloton, Zoom and Pinterest helped millions take the edge off extended isolation at home amid the worst of pandemic conditions and saw their market values sore as a result. But now, as gyms, in-person meetings and activities outside the home have come back online, this trio of companies and others that found a silver lining of success in conditions wrought by the global public health crisis are watching some of that market wherewithal slip away.
Keith Srakocic, Associated Press

Brands like Peloton, Zoom and Pinterest helped millions take the edge off extended isolation at home amid the worst of pandemic conditions and saw their market values soar as a result.

But now, as gyms, in-person meetings and activities outside the home have come back online, this trio of companies and others that found a silver lining of success in conditions wrought by the global public health crisis are watching some of that market wherewithal slip away.

And, some of the companies worst hit by pandemic conditions are not only seeing some recovery activity, but a few are even booming.

  • Peloton leaders couldn’t pedal fast enough to keep up with demand for its pricey home exercise equipment through most of 2020 and reached a market capitalization value of nearly $50 billion in January of this year. Now, the company is worth less than a third of that.
  • Videoconferencing platform Zoom has also watched a precipitous decline from its pandemic market high value of $160 billion and its stock price is down 25% this year, according to the New York Times.
  • Planet Fitness, one of the largest operators of fitness facilities in the U.S. with over 2,000 clubs around the country, was trading near its 52-week high on Thursday at about $91 per share.
  • Concert and event promoter Live Nation Entertainment is also riding a valuation rise as cooped up music fans revive their interest in, and ticket purchases for, live music events. The company’s stock has been moving up all year and was trading at about $112 per share on Thursday.