While the coronavirus caused the steepest decline in the U.S economy since the 2008 Recession, some companies benefitted greatly from the pandemic. As the country went under lockdown, basic necessities such as toilet paper and cleaning supplies became rarities. As a result, retailers had to limit the number of items purchased. E-commerce sites also saw a surge in business as people were forced to stay indoors. As customers knocked over shelves, the CEOs of these companies sat back and watched the money pile in. Here are 10 stocks that are seeing new highs, thanks to COVID-19.

Clorox

As the Center for Disease Control (CDC) and other health officials stress disinfecting all surfaces to prevent the spread, consumers have stocked up heavily on Clorox (NYSE: CLX) products. The New York Stock Exchange cites Clorox’s stock price around $218.00 as of June 19, with a year-to-date (YTD) gain of 33%. Since cleaning products became rare household items almost overnight, the sparsity proved to be an advantage for Clorox. Consumers quickly wiped the shelves of all Clorox products, spiking the household company’s stock prices.

Netflix

Even with competition from streaming bigwigs like Amazon and Disney+, Netflix’s (NASDAQ: NFLX) vast array of original movies and shows keeps audiences stuck in front of their TVs while they’re stuck inside. It also helps that Netflix has 182.8 million subscribers worldwide, while Amazon Prime has 112 million and Disney+ has 54.5 million, both as of May. Currently, Netflix’s YTD gain is 33%.

Amazon

Amazon (NASDAQ: AMZN) is an e-commerce powerhouse, so it’s no surprise business is still booming during the pandemic. With a YTD gain of 27%, Amazon’s financial success during COVID is based on their data center growth from Amazon Web Services (AWS). The closures of physical retailers also led consumers to flock to Amazon for their needs. Additionally, while the crisis forced employers to cut their staff at half capacity, Amazon recruited more than 100,00 employees, satisfying massive customer service demands.

Apple

Although Apple’s (NASDAQ: AAPL) supply chain in Asia was disrupted due to the virus, the tech giant’s strong customer base helped them to survive. With the promise of Apple’s latest toy, the 5G iPhone 12, looming over consumer’s heads, analysts had enough ammo to raise estimates. The company also saw an increase in dividends and upped their spending on stock buybacks, despite companies being criticized for spending too much on them. Apple’s YTD gain as of May is 7%.

Domino’s Pizza

As restaurants closed their doors or had to limit their services, Domino’s (NYSE: DPZ) saw sales spike during the pandemic. While customers already had the Domino’s app prior to the pandemic, stay-at-home orders prompted consumers to use it even more. Domino’s also added new menu items that offer higher profits, such as sandwiches, pasta, and desserts. With Domino’s high stock, the pizza chain is joining Standard & Poor’s 500 (S&P 500). As of May, Domino’s YTD gain is 29%.

Etsy

Etsy (NASDAQ: ETSY) may come as a surprise to many, as a crafts retailer normally would not survive an economic crisis. However, with many people out of work, customers are not only looking for deals and steals, but to sell their own products. Etsy also saw a popular surge in handmade PPE such as artsy face masks, increasing business. Etsy’s YTD gain is 78%.

Microsoft

Microsoft (NASDAQ: MSFT) is one of the very few companies whose stocks will almost never suffer during an economic decline. Aside from being a tech powerhouse, Microsoft owns popular gaming system Xbox, LinkedIn, and Microsoft Teams, which is ready to be a standalone application. Not to mention that Azure, Microsoft’s cloud computing service, won the $10 billion JEDI contract last October. Microsoft has a YTD gain of 15%.

Paypal

As more people shop online or pick up side hustles for extra money, PayPal (NASDAQ: PYPL) became the go-to payment method during COVID-19. PayPal’s stock price even surpassed competitor Cash App’s, owned by payment company Square. It also doesn’t hurt that PayPal recently acquired Honey, which offers online coupons on e-commerce sites. The move added over 10 million more users to PayPal. Their YTD gain is 30%.

Slack

Even though Slack (NYSE: WORK) initially didn’t do too well after its initial release in 2013, its become a popular communication tool amid the pandemic. Employees who continue working from home rely heavily on Slack to communicate with other coworkers. Many companies also used Slack well before the coronavirus, adding to the company’s financial success. Slack’s YTD gain is 37%.

Zoom

Zoom (NASDAQ: ZM) became the name on every corporation’s lips since the start of the pandemic. With America’s workforce stuck at home, many workers used Zoom to collaborate with fellow employees. However, not only were men and women in stuffy business suits using Zoom, but school closures saw the start of online distance-learning. Now, students of all grade levels continue their education through Zoom. The software company’s YTD gain is 130%.

Read Also:

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