Cyber Monday was an abnormal one for public companies, says Brian Wieser, an analyst at Pivotal Research Group.
“The trend that I identified which was peculiar was two of the most notable market share gains of the twenty largest consumer health and consumer-centric internet players” went to e-commerce websites that include popular bike-sharing service, Peloton, Wieser said in a report.
That makes sense to Richard Feinberg, chief executive officer of GenBridge Ventures. “A lot of e-commerce and other large players were picking up new users on Cyber Monday in the form of customers,” he said.
As another might say, these cyber-thefts are like legacies in terms of leaving a permanent mark. That means, just like a crippling disease leaves its mark on an individual’s memory, even those stung for the rest of one’s life will not forget the details of just how bad the pandemic was.
The monetary harm of the pandemic is expected to become clearer. The Centers for Disease Control and Prevention is revising estimates of the death toll, pegging it now at about 650,000—lower than the 1 million-plus figure it had previously estimated.
But, the early reflections of such a massive pandemic do make for compelling financial tales, including things like company valuation. Such was the case for a pair of bike-sharing companies that grew after the pandemic.
Peloton, based in Manhattan, saw a nine-fold increase in sales during the five years from 2013 through 2017. The San Mateo, California-based Zoom soared 225% over the same period. Both companies are private and are not required to reveal their financial data. The company did not immediately respond to a request for comment.
Wieser said the resurgence of two of the most popular and well-known bike-sharing services, Zoe’s Kitchen and Subway, also had something to do with the strong Internet performance for internet health and consumer-centric internet stocks on Cyber Monday.
Zoe’s Kitchen, based in Fishkill, New York, closed at $24.83 on Monday—a 52-week high. The company is a sort of casual-dining restaurant that specializes in flatbreads and salads.