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TOPLINE
Here are 20 stocks that stand to benefit from having so many people staying at home amid the coronavirus pandemic, according to Olivetree Financial.
Even though the coronavirus has caused unprecedented market volatility, there are still good deals … [+]
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KEY FACTS
Olivetree assigns a sentiment score to each stock in its list: A score of 50% is neutral, whereas one closer to 100% indicates extreme bullishness. The firm highlights five standout stocks that they see having the most upside potential.
Nvidia: With a score of 91%, Nvidia is the highest-rated stock on the stay at home list, and Olivetree expects the graphics chipmaker, which has seen its stock jump 50% so far in 2020, to continue to outperform, especially on the back of strong first quarter earnings that showed revenue increasing 39% from a year ago.
Apple: Apple scored 82%, with shares up 6% this year—despite the coronavirus impacting its supply chain for popular products like the iPhone—because there’s a low short interest ratio, meaning that not many investors are betting against the stock.
Shopify: The Canadian e-commerce platform Shopify scored 79%, with its stock surging 100% in 2020, and recently announced that it would let most of its employees work remotely on a permanent basis.
Facebook: It received a sentiment score of 76%, and its stock, up 12% so far this year, recently hit a new record high of over $235 per share.
Okta: This cloud software company scored 75% on the basis of continued outperformance and solid earnings growth, and its stock is up 64% this year.
Key background
The other stocks on Olivetree’s stay at home list include a mix of big retailers, food and beverage companies, software services and entertainment companies. The firm is bullish on Zoom (71%), which has seen its stock jump nearly 150% this year amid high demand for its remote conferencing service during the pandemic. Among the big tech companies, Olivetree is bullish on Microsoft
MSFT
GOOGL
GIS
KHC
WING
DPZ
CPB
LOW
HD
TGT
ATVI
TTWO
PLD
Further reading
These Stocks Will Thrive In A Post-Coronavirus World, According To Experts (Forbes)
Here Are 29 ‘Get Out And Go’ Stocks For The End Of The Coronavirus Quarantine (Forbes)
Here Are 20 Stocks To Buy In The ‘Coronavirus Economy,’ According To Market Experts (Forbes)
20 More Stock Picks For The Coronavirus Economy, According To Market Experts (Forbes)
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