Zoom and Peloton lead technology sale to the home after upbeat Pfizer vaccine announcement

Zoom Video Communications Inc. ZM,
-15.13%
and Peloton Interactive Inc. PTON,
-20.74%
are among the biggest losers in pre-market trading on Monday, with Zoom stock down more than 12% and Peloton more than 13%. The declines come after Pfizer PFE,
+ 7.33%
and BioNTech BNTX,
+ 18.63%
announced that their COVID-19 vaccine candidate has been shown to be over 90% effective in preventing COVID-19, sparking a strong rally for the wider market in hopes the vaccine may cause a return to normal economic activity.

Dow Jones Industrial Average futures YM00,
+ 5.38%

YMZ20,
+ 5.38%
are up 1,550 points on Monday, or 5.5%, while S&P 500 ESZ20 futures,
+ 3.95%

ES00,
+ 3.95%
are up 151 points, or 4.3%. Nasdaq-100 NQZ20 futures,
+ 0.37%

NQ00,
+ 0.37%
are up 68 points, or 0.6%.

Other names of struggling tech in Monday’s pre-market commerce include Etsy Inc. ETSY,
-18.43%,
down 10.5%, GrubHub Inc. GRUB,
-10.07%,
down 8%, and Netflix Inc. NFLX,
-7.48%
down 5.6%. Etsy has seen strong demand for homemade face masks, while GrubHub has seen a growing interest in take out orders due to limited seating capacity in restaurants. Netflix was able to capitalize on a dearth of other entertainment options as the pandemic forced movie theaters to close, production shutdowns and sports cancellations.

PayPal Holdings Inc. PYPL Shares,
-6.36%,
another big winner during the pandemic, are off 3.8%. The COVID-19 crisis helped drive record-breaking performance for PayPal as more people shopped online and looked for digital ways to pay friends, service workers, and charities.

Video game stocks are also declining. Actions of Activision Blizzard Inc. ATVI,
-5.75%
are off 3.9%, the shares of Electronic Arts Inc. EA,
-4.66%
are off 2%, and the shares of Take-Two Interactive Software Inc. TTWO,
-8.72%
are down 4.5%. Like Netflix, the video game industry has also benefited from a greater interest in forms of entertainment that can be enjoyed at home.