Zacks Market Edge · Zacks Investment Research

Pandemic Stock Winners Shopify, Peloton and Zoom: Buying Opportunities in 2025?

October 9, 2025·31 min·2 clips

Are pandemic winners like Peloton, Zoom, and Shopify now hidden bargains in 2025?

So, are the pandemic winners finally cheap? Reineck treats the screen like a cleanup job, more than five years after COVID broke out and after many charts have moved well past the March 2020 shock. The setup is clean. These stocks ran hard, hit new all-time highs in 2021, then got hammered in the 2022 sell-off. Now they have to prove something. She checks earnings, revenue, valuation, and charts to see whether any of the old pandemic favorites have become actual deals. Zoom gets a cool read. Earnings are moving the right way, but the growth story is thin. Thirteen times earnings is not screaming cheap. Price to book at 2.7 gives the value case something to hold onto, while price to sales at 5.1 looks rich next to roughly 3% sales growth. So the stock just kind of sits there. Reineck reads the style scores the same way the chart reads: C for value, C for growth, C for momentum. There is no dividend to make waiting feel easier. The take is not a takedown. It is just hard to get excited about slow growth without a cleaner discount. Shopify is more interesting. Reineck calls it the one that round tripped: a 2021 peak, a rare 36.7% earnings miss in October 2021, a brutal drop, and then a pretty serious repair job, aside from a small 3.9% miss two quarters ago. Earnings are back up and to the right, the market cap is still big, and the chart is trying to challenge those 2021 highs. By the end, the question is whether these once red-hot pandemic names are simply less expensive, or hot again for a reason.

As heard by us

A plainspoken look at whether pandemic winners deserve a second look.

The episode treats the pandemic stock boom as a simple test of whether the old winners still deserve a look. Tracy Reineck goes solo and walks through names like Peloton, Shopify, and Zoom, using their earnings and revenue to compare the 2021 peak with the 2022 sell-off.

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Why you'd press play

You want a sober look at whether the old pandemic winners are deals again.

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