Saga of Wall Street's pandemic darlings ends with tears

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Saga of Wall Street's pandemic darlings ends with tears
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Think about something novel you started doing two-and-a-half years ago to make life easier during the COVID lockdown and chances today are that there is a related story about a stock market casualty.

while stuck at home with no sports to bet on. But after scaling $85 in August 2021, Robinhood last traded at $10.66.

Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, Georgia, says Peloton may appear cheap, but he is wary because it is not profitable. Its price-to-sales multiple has fallen to 0.8, on a trailing 4-quarter basis, from an average multiple of 6.6 since it went public in Sept. 2019, Morgan said.

Still, he is concerned about its profit decline. Zoom's adjusted earnings per share is expected to fall 27% for its fiscal year ending in January versus 2022 growth of 55.5%, according to Refinitiv.

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