| By Sarah Coker |
When news of the COVID-19 pandemic first broke in March of 2020, it wreaked havoc on the U.S. stock market. Virtually all the major publicly traded companies across the board suffered significant hits.
Now, more than one year later, some industries and companies have been able to bounce back better than others. While the travel and entertainment industries are still recovering slowly, health and tech have not only survived but thrived in a changing market.
These are companies that rebounded quickly following the pandemic and will likely continue to grow.
With more people getting involved in 2020 quarantine hobbies like jewelry making or pottery, Etsy’s success shouldn’t be a huge surprise. Last year marked a 128.1 percent year-over-year growth for the company between 2019 and 2020, with total revenue of $451.5 million in its third quarter. This translates to a stock price of $219.18 in April 2021, compared to a low of just over $30 per share back in March 2020.
If anyone has seen the recent SNL skit that went viral back in February, they would know that Zillow fever is definitely a real phenomenon. Despite the ongoing pandemic, the housing market has been booming.
Since so much of the home buying process is now done online, Zillow has become a prominent hub. Not only does the site contain information for prospective buyers and sellers, but also has agent listing, calculators to view mortgage rates and features rental listings.
As a result, the price for Zillow’s stocks has been steadily rising over the past year. Since its lowest point last March at only $25 per share, Zillow’s stock price has risen to $141.32 in April 2021.
(Nvidia, C3ai, Baidu, Palantir)
Artificial intelligence has been a hot topic for several years now, though it has transitioned from the place of fringe science to having several major AI companies available for public trading. Among the most valuable stocks, Nvidia leads the pack along with Baidu and Palantir.
C3AI is another contender, though some sources have speculated it’s become so hot that demand exceeds what it’s currently worth.
On the other hand, Nvidia has stayed relatively stable, suffering only a mild initial loss. It dropped to $196 per share back in March of 2020, rising to over $615 per share within the past 13 months.
PennyMac Financial Services
While some may assume finance is an industry with an overall advantage in stocks, this is not always the case. PennyMac has been available for public trading for about five years, though it has not seen major spikes prior to 2020.
During the market crash at the beginning of the pandemic, March through April 2020, the company suffered a major drop of 54 percent at its lowest point. However, they were able to recover quickly and kept rising. Though their stock prices fell to $17.25 a share back in early April, it has steadily risen to $57.66 per share over the course of a year.
(Novavax, Pfizer, Moderna)
Stock market prices take into account that healthcare is currently an exploding industry. Moderna, for example, was worth less than $20 per share back in February of 2020 and is now clocking in at $158.30 as of April 2021.
However, with such rapid distribution of vaccines underway, the market is competitive and volatile. Which manufacturer is at the head of the pack can easily change, and it’s difficult to predict who will fare best.
As a whole, a public health crisis means good things for big pharma businesses. Companies like Pfizer, Moderna, AstraZeneca and Novavax are big stocks to keep your eyes on in the coming months.
*Stock market data taken from Google Finance April 14, 2021.