The coronavirus is destroying the stock value of many companies. The news is filled with reports of the stock market crashing and the global financial markets being in turmoil as a result of fear caused by the deadly coronavirus that has infected tens of thousands of people around the world. However, there is not all doom and gloom on the stock market. In fact, there are a few stocks that are doing very well in the wake of the coronavirus. Two good examples of this are Amazon and Netflix. The online retailer and the streaming platform are doing very good business recently. It is believed that a lot of this is because people are staying at home and avoiding public places because of the outbreak.
According to CNN, this is because many people are choosing to simply stay home and avoid having any contact with complete strangers until the coronavirus has reached a higher level of containment. Watching shows and movies on Netflix and shopping for things on Amazon are helping literally millions of people to pass the time indoors as they wait out the eventual passing of this global health crisis. As you might imagine, the stocks of companies that are involved in the travel industry have fallen drastically over the past few weeks. The same goes for the stocks of theater chains.
It is not known how much longer the crisis will last. More cases of the virus are being found in the United States and other countries every day. In the meantime, people seem content to stay at home where they know it is safe with no risk of getting infected. Until people are willing to venture outdoors once again and mingle in large crowds, it seems very likely that stocks of companies that people can utilize at home will continue to show great gains.
There are a few other companies that have seen their stock prices gain since the outbreak became a very big global issue. Peloton is a company that makes exercise equipment. GrubHub delivers food to the homes of customers. These two companies provide products or services that are very useful to people who are staying in a self-imposed quarantine. Netflix and Amazon have shown very solid gains in the past week and continue to rise. This would indicate that the public fears about coronavirus are only getting worse. It remains to be seen what other company stocks will benefit from coronavirus.
Dil Bole Oberoi
