For many stockholders, COVID-19 has wreaked havoc upon their stocks. Over 30 million Americans have filed for unemployment as businesses have shut down, and people have been laid off. Gross domestic product is also expected to go down 53% in the second quarter. However, some stocks have actually thrived in the midst of the COVID-19 pandemic. Here are four stocks that have seen success during the coronavirus outbreak.
YTD Gain: 27%
Online shopping has become more popular during the pandemic. Since many brick and mortar stores have shut down, people have had to rush to find items online. Amazon Web Services has also seen data center growth as the need for telecommunications increases due to stay-at-home orders. The company has also added over 100,000 jobs to deal with the rise in sales. Investors continue to invest, even when the company is sacrificing profits.
YTD Gain: 33%
Since COVID-19 is highly contagious and can spread by air droplets landing on surfaces, cleaning products have become essential in the battle against the virus. Clorox, which sells cleaning products such as bleach and antibacterial wipes, has naturally been in great demand. As long as COVID-19 continues to spread, Clorox should continue to see profits.
YTD Gain: 78%
While it may seem surprising that Etsy has seen massive profits during the coronavirus, the profits actually make sense. Since jobs are insecure, people are looking for low-cost items. They’re also looking for masks, which have been difficult to find. Sellers on Etsy are offering handmade masks, which saves customers the time and effort of making their own. Customers can also find artsy masks that suit their fashion tastes better than something that they could make themselves.
YTD Gain: 33%
Since people have been unable to go out to places, they’ve been looking for ways to stay entertained at home. Netflix offers people a way to stay entertained for days with hundreds of shows and movies to watch. With extensions such as Netflix Party, people can even watch shows and movies with their far-away loved ones. It has replaced the normal trip to the movies, and Netflix has seen huge profits because of this.