) plunged on Friday, joining a broad decline in the market value of other pandemic favourites this week as investors priced in expectations for a return to normality as more countries gradually relax COVID restrictions.
“What we think is very interesting is that Omicron, because of its very high infectiousness, very low morbidity compared to previous waves such as the Delta variant, might actually be the first tangible sign that the pandemic is evolving in the direction that we all expected, i.e. that it would become a manageable endemic disease like the flu.”
Both companies were part of a group, along with others such as Zoom and Docusign whose shares soared in 2020, and in some cases 2021 as well, as people around the world were forced to stay at home in the face of the coronavirus. “With a return to the office and travel lanes opening, darlings of the WFH thematic are reflecting the growing reality that the world is moving slowly but with certainty towards a new normalcy,” said Justin Tang, head of Asian research at United First Partners in Singapore.