I'm sure you're all fully aware that March has been a rough month. This month we've seen the Coronavirus not only wreak havoc on the stock market but also professional/collegiate sports, everyday American households, and pretty much everything in between.
However, even in times like this, there are some that manage to come out on top so in this article, we're gonna breakdown some stocks that have shot upwards this month despite the virus and in addition, we will also be breaking down some of the stocks that haven't been able to come out on top.
There have been a collection of companies that have seen success due to the virus outbreak however in this case we're gonna highlight the companies that you're probably most familiar with.
Zoom (ZM) +10.79% since March 1st -
Zoom is a super fast-growing video conferencing platform that launched its IPO last year. ZM stock has been skyrocketing really ever since January and has continued to see success despite the coronavirus creating vast market uncertainty. Zoom's success is mainly attributed to the fact that due to the virus, many companies are forcing their employees to work remotely and this has driven a lot of new users towards Zoom's video conferencing product. There certainly is no lack of competition in the video conferencing space, however being that Zoom is one of the fresh new players in the sector and has a really simple and cost-effective product, tons of companies across the world are now on Zoom.
Walmart (WMT) +6.13% since March 1st -
Everybody has shopped at Walmart at least once in your life, and if you haven't, you probably will now in order to stock up on supplies. Walmart has been one of the most essential businesses throughout the virus panic mainly due to the fact that Walmarts are literally everywhere and they also sell pretty much anything that you might possibly need in order to self-quarantine. Due to this, Walmart has probably seen a month's worth of sales in the matter of a week or two and this had directly led to some nice returns for Walmart shareholders.
Clorox (CLX) +11.07% since March 1st -
Last but not least, Clorox. This one is pretty obvious; due to the virus panic/outbreak, people are loading on necessities and household products, particularly products that kill bacteria and keep the home nice and clean. This has directly led to some solid performance out of CLX this month as every mom in the world has been loading up on wet wipes, bleach and every other cleaning product out there.
Now, moving on to the biggest losers:
Carnival (CCL) -70.27% since March 1st -
I'm just gonna take a wild guess and say that most people probably don't want to go on a cruise during a global virus outbreak. With that being said it seems that a lot of investors probably agree with that statement as we've seen Carnival stock take a 70% haircut this month. We'll see how this one plays out long term but it just seems like the cruise ship industry always has some negative stuff going on.
Nike (NKE) -26.35% since March 1st -
Nike is one of the larger market cap companies that have taken a hit from the virus. Nike's poor performance as of late is mainly attributed to its large physical retail presence, particularly in China. Nike had to shut down tons of its stores in China and in addition, has seen reduced foot traffic globally due to people self quarantining. Nike has been a global giant for quite a while now and I doubt most shareholders believe that will stop anytime soon, however, Nike has definitely has been taking on some damage this month.
United Airlines (UAL) -61.95% since March 1st -
United Airlines, along with a collection of other airline companies (Boeing, Southwest) has taken a nice little haircut this month. Similar to reasons why Carnival stock has been tanking also holds true for the big airline companies; people are staying home and simply just don't want to travel - in some cases, people aren't even allowed to travel if they wanted to.
That's all I have for today, hope you guys learned something and stay safe out there!