By Kayla Matthews, Journalist & Writer
COVID-19 has thrown the world into uncertainty. The stock market responded with tremendous plunges that may have made you scared to ever buy stocks again. In mid-March, the Dow fell 12.9%, representing the worst drop since 1987. However, the stock market is rebounding, much to investors’ relief.
Knowing which companies will likely do well during the COVID-19 outbreak helps investors remain resilient in these strange times. If you’re wondering what stocks to buy today, here are five smart choices:
Many people currently find themselves with a lot more time on their hands. Turning to Netflix to watch something is an accessible, and usually enjoyable, way to stay occupied. Developers even created a Google Chrome extension called Netflix Party. It allows friends to watch Netflix content together while isolated in different houses.
It’s not surprising, then, that Barron’s lists Netflix as a great tech stock to buy during the coronavirus outbreak. Rich Greenfield, the co-founder of LightShed Partners, contributed to the assortment of options Barron’s published. He pointed out how Netflix’s position is strong relative to its peers, primarily because it doesn’t sell ads and has months worth of content for viewers. Greenfield also thinks more people use Netflix now due to not having live sports to watch.
COVID-19 currently has no cure. Health care providers can only treat the disease’s symptoms. Pharmaceutical companies are hard at work around the world to change that, however.
Many sources cite Gilead as the leading candidate for developing a coronavirus treatment. The company’s antiviral drug, Remdesivir, could work on a large scale to mitigate the health consequences of the deadly virus.
An article updated with stock information in late March mentioned how the company’s stock is up 10% over the past month. The author believes such success should continue as long as Gilead continues to make progress on potential ways to fight COVID-19.
Due to the lockdowns around the world that confine many people to their homes, banking in person is difficult and sometimes impossible. When Nasdaq mentioned PayPal as one of the best investments to make during these times, it discussed how it also operates Venmo, a peer-to-peer mobile payments app. Even better, the company recently acquired Honey, a coupon platform for people eager to find deals.
PayPal facilitates e-commerce payments without making users enter their details each time. A person can also use the service to transfer money to someone who also has PayPal. Many companies pay their workers through this service, too. Moving cash without visiting a bank is a fantastic option during the coronavirus pandemic.
Venmo and Honey fill useful needs, too. Consider a situation where a friend offers to pick up some goods for you while shopping and drop them at your door but does not want to touch cash. Venmo lets you pay them back quickly with no physical handling of funds.
Concerning Honey, the coronavirus has hurt many aspects of personal finance and budgeting in global households. Honey helps people save on the products they buy.
You may have had Zoom meetings for work or pleasure a lot more than often recently, and if so, you’re not alone. Isolation requirements associated with the coronavirus means people cannot meet in person and have close contact. Zoom is the next best option, and it’s also worth looking at if you want to buy stocks.
The stock climbed 135% in three months despite the wider market downturn. Another recent and notable metric is the 86% jump in large companies paying to use Zoom. As more people do their best to stay productive from home offices, they’ll often turn to Zoom to discuss things with colleagues. Some musicians have also broadcast live concerts on Zoom to keep fans’ spirits up.
Teladoc Health is a telemedicine service that lets people visit licensed doctors without leaving their living rooms. The company also has a dedicated coronavirus page that explains how it handles suspected cases. Teladoc’s physicians cannot write orders for coronavirus tests, but they can evaluate a patient’s symptoms and advise them about the next steps.
When you make a list of what stocks to buy today, don’t overlook this company. In mid-March, the company’s patient visits rose by 50%, and many of those users complained of upper respiratory problems. More people are generally getting on board with the idea of telemedicine. That’s not likely to change during or after the coronavirus crisis.
Buy Stocks Thoughtfully
As this list shows, now is not the time to stop investing. You can do so with care by focusing on these five wise investments and others like them.