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Market check: Nasdaq falls, pandemic trades under pressure, Robinhood continues downtrend

Yahoo Finance's Ines Ferre takes a look at the intraday market action, as well as examining several of the declines in sectors favored in the pandemic-era such as the EV space, work-from-home stocks, and meme stocks.

Video transcript


AKIKO FUJITA: Welcome back to Yahoo Finance Live. The NASDAQ off of the session lows but continuing to drag lower right now, down about 1.3%, dragged down by those disappointing subscriber numbers out of Netflix. For a look at the rest of the market action today, let's bring in Yahoo Finance's Ines Ferre. Ines.

INES FERRE: And Akiko, the NASDAQ 100 heading for its worst week since March of 2020. Let's take a look at the components on our YFi Interactive board. You can see that Amazon is down more than 3%. We're also watching Tesla down more than 3%. I'm going to put this as an equal weight chart. So you can see, as we're mentioning, Netflix down 21%. But I want to mention, over the last two months, some of the pandemic darlings as we call them really getting hit over the last couple of months-- Peloton, Netflix, Zoom, DocuSign, all of these names which did well during the pandemic-- under pressure.

If we look at the electric vehicle space over the last two months also, same kind of scenario, where we're seeing pre-revenue, or low sales, or no-profit companies that are involved in the EV space really getting hit. Also looking at the meme stocks. We're watching AMC, GameStop, over the last couple of months that have been getting hit today. We're watching the action on these meme stocks. [INAUDIBLE] GameStop is off the lows of the session. It had been below the $100 level. It hadn't seen those levels since February of last year. And also AMC hadn't seen its levels since May of last year of 2021.

And, finally, I also want to mention Robinhood, which has been on a steady decline. In fact, Robinhood, year-to-date, down 26%. But over the last six months this stock is down about 80% from its all-time highs back in August of last year. Again, the companies that did well, in this case Robinhood-- you had a lot of retail users going on the app that were trading on Robinhood. Those that did well during the pandemic are starting to see major haircuts. Akiko, Brad.

BRAD SMITH: Ines, thank you so much for those updates--

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