Why Netflix, DraftKings, and Beyond Meat Are Soaring Today
2022 has been brutal so far for the stock market, particularly so for growth stocks that had enjoyed soaring share prices over the prior couple of years. Macroeconomic worries such as surging inflation, rising interest rates, and geopolitical conflicts sapped the values of many former Wall Street darlings.
But on Friday, some of these slumping stock charts took positive turns as the economy showed some signs of stabilization and long-term strength.
For example, vegetarian food innovator Beyond Meat (NASDAQ: BYND) had taken a 54% haircut from the New Year to Thursday's closing bell. Online gambling portal DraftKings (NASDAQ: DKNG) posted a 59% price drop over the same period, and video-streaming veteran Netflix (NASDAQ: NFLX) was down by 71%.
Source Fool.com
