The stock market is soaring Monday after Pfizer announced a 90% success rate of their coronavirus trial. Unfortunately, this news also had a negative impact on stay-at-home stocks.
Here are the worst stocks by percentage decrease during trading Monday.
1. Biogen Inc. | -28.17% | Price $236.26
Shares of Biogen plunged on Monday after a Food and Drug Administration advisory panel voted against approving the company’s highly anticipated experimental Alzheimer’s disease drug.
2. Quidel Cp | -28.15% | Price $203.66
Jim Cramer said on Thursday to his Mad Money viewers that Quidel is among the smaller testing providers and is a wild trader, but could be considered once the stock calms down.
3. Wayfair Inc. | -21.85% | Price $235.33
Wayfair, the online home-decor store posted earnings and sales last week that beat analysts’ forecasts as the pandemic and work-from-home movement spurred consumers to buy goods for their houses.
The Boston-based company said it earned $173.2 million, or $2.30 a share, in the third quarter, vs. a loss of $272 million, or $2.23 a share, in the year-earlier quarter. The per-share earnings number came in well above analysts’ forecasts of 82 cents a share.
4. Peloton Interactive Inc. | -20.29% | Price $100.01
In October, Peloton Interactive was sued by Icon Health & Fitness, the maker of the NordicTrack bike, for patent infringement, the latest salvo in the ongoing legal battle between the two companies.
Icon filed a lawsuit in a Delaware district court based on two features that Peloton added to an exercise bike released in September, Bloomberg reported: a swiveling touchscreen and the ability for the bike to automatically change resistance levels during classes.
5. Fiverr International Ltd. | -18.48% | Price $154.07
Late October, Fiverr International Ltd. , a marketplace for freelance services, reported third-quarter revenue that rose 88%.
GAAP net loss in the third quarter of 2020 was ($0.5) million, or ($0.01) net loss per share, compared to a net loss of ($8.4) million, or ($0.26) net loss per share, in the third quarter of 2019.
6. Zoom Video Communications | -17.37% | Price $413.24
Zoom Video Communications shares extended declines Monday after the Federal Trade Commission said it will require the online meeting group to enhance its security privacy features.
In a settlement the FTC reached with the San Jose-California tech group linked to privacy complaints from users whose information was collected during recorded conferences, the FTC said it will require Zoom to “implement a robust information security program” as well as a “prohibition on privacy and security misrepresentations.”
7. Etsy Inc. | -17.15% | Price $121.20
Etsy earned 70 cents a share in its third-quarter earnings, compared with the consensus analyst estimate of 57 cents according to FactSet.
Etsy reported revenue more than doubled to $451.5 million from $197.9 million. Analysts were expecting $412 million.
8. Docusign Inc. | -14.71% | Price $197.60
In September, shares of digital notary DocuSign dropped in premarket trading following the company’s strong results in the second quarter and a mostly bullish reaction from the analyst community.
Analysts at Wedbush maintained their outperform rating while increasing the stock’s price target to $270 share from $240.
Analysts at Morgan Stanley raised DocuSign’s price target to $260 from $187 due to the company’s “highly strategic positioning in the current environment.” The firm maintained its equal-weight rating as it looks for a more attractive entry point.
9. Shopify | -13.63% | Price $902.60
Shopify blew out its quarterly earnings after seeing a demand in e-commerce sales. Cramer said to wait to buy Shopify after its stellar report. Could now be a time to buy after it fell Monday?
10. ROKU | -12.41% | Price $221.91
Here’s what Wall Street was saying about Roku following its report.
This article was originally published by TheStreet.