SAN FRANCISCO (Reuters) - Speculative stocks that stand to benefit from social distancing during the coronavirus pandemic soared on Tuesday, lifted by a broad rebound market following Wall Street’s worst day in three decades.
With people across the United States told to work from home and avoid large social gatherings to slow the spread of COVID-19, office messaging app seller Slack jumped 18%, while stationary exercise bike company Peloton jumped 19%.
Video streaming service Roku rallied nearly 10%, while SmileDirectClub, which sells orthodontic braces online, surged 24%.
Slack, Peloton and SmileDirectClub were among a wave of unprofitable companies that held highly anticipated stock listings in 2019, and their shares have been volatile since then.
Broadly, the S&P 500 .SPX soared 5.1%, rebounding from Monday's 12% loss, which was the worst one-day decline since 1987.
Reporting by Noel Randewich; Editing by Alistair Bell
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