Stocks were recovering Monday as investor sentiment was more circumspect that the Omicron variant will not disrupt reopening plans the way the original Covid-19 virus and earlier variants did.
Here are some companies that took a hit Monday.
1. Allbirds BIRD | Down 4.1%
Shares of Allbirds (BIRD) – Get Allbirds Report struggled Monday after the sustainable sneaker brand received mixed reviews from Wall Street analysts.
Morgan Stanley and JPMorgan initiated coverage of Allbirds with equal weight and neutral ratings respectively, citing concerns about the company’s long-term growth potential.
However Guggenheim, Bank of America Securities and Stifel all initiated the stock coverage with a buy rating.
Analysts at Keybanc and Piper Sandler rated the stock over weight.
2. Peloton PTON | Down 5.2%
Shares of stay-at-home stock Peloton (PTON) – Get Peloton Interactive, Inc. Class A Report, the maker of connected fitness equipment, retreated sharply Monday after rising on Friday as investors weighed the possibility of extended lockdowns due to the impact of the new Omicron variant.
3. Merck MRK | Down 5.8%
Shares of Merck (MRK) – Get Merck & Co., Inc. (MRK) Report fell Monday after analysts at Citi downgraded the stock to neutral from buy. Last week, the drugmaker published data from a large-scale trial of its Covid pill treatment. The data showed a lower-than-expected efficacy rate against hospitalization and death in high-risk patients.
4. eBay EBAY | Down 2.7%
Shares of eBay (EBAY) – Get eBay Inc. Report slipped in Monday trading after the e-commerce giant said it will acquire Sneaker Con Digital’s authentication business which checks the authenticity of high-value footwear.
5. Twitter TWTR | Down 1.5%
Shares of Twitter (TWTR) – Get Twitter, Inc. Report edged lower Monday after chief executive and co-founder Jack Dorsey said he will step down from his position and named Twitter’s Chief Technology Officer Parag Agarwal to take on his role.
Read More: 5 Top Decliners for Monday Amid Stock Rally