Netflix (NFLX), which dominated the Wallstreetbets forum, plunged 21.3%. The streaming media company's guidance for Q1 net paid subscriber additions and sales fell short of expectations, taking the shine out of its Q4 profit beat. The weak forecast also resulted in a slew of analyst downgrades and price cuts.
Forum favorite GameStop (GME) was up 5.4% after declining in premarket trading.
Peloton Interactive (PTON) bounced back and climbed 11.8%, following a slump a day ago over a report that Peloton was planning to pause Bike and Tread production due to declining demand. The company expects fiscal Q2 revenue of $1.14 billion, which would be in line with its $1.1 billion to $1.2 billion previous estimate.
Tesla (TSLA) fell 4%. The chairmen of two congressional panels criticized the company over its decision to set up a car showroom in China's Xinjiang region.
AMC Entertainment (AMC) slipped 0.7% and Apple (AAPL) fell 0.6%.
SoFi Technologies (SOFI) sank 6.8% and Palantir Technologies (PLTR) declined 6.3%. Deutsche Bank revised its price target on Palantir to $18 From $25.
Robinhood Markets (HOOD) shed 5.2%, while Microsoft (MSFT) was down 1.1%. The company is set to report its December quarter results next week.
Price: 391.70, Change: -116.55, Percent Change: -22.93
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