5 Companies Riding COVID19 to Record High Valuations
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It’s no secret that sharemarkets the world over have suffered a horrific nosedive over the past month, echoing that of the global financial crisis or 1987.
But it’s not doom and gloom for everybody.
As I wrote in Winners, Losers and New Business Opportunities, there have been a number of beneficiaries who have been enjoying an increase in demand for their product from existing markets, as well as from new markets that were previously disinterested (think corporate professionals who suddenly realise that video-calls are actually a reasonably good — and way more convenient — substitute for face-to-face meetings).
Here’s a quick stocktake of some of the big movers-and-shakers, as at March 30, 2020.
Note: Information provided in this blog is general in nature and does not constitute financial advice. … Every effort has been made to ensure that the information provided is accurate. Individuals must not rely on this information to make a financial or investment decision.
From March 2 to 18 March alone, Blue Apron enjoyed an almost 8X surge in its share price, from $2.53 to $16.25
This mirrors the performance of other meal and grocery delivery services such as Waitr and iFresh respectively.
It’s no secret that the interest in and immediate relevance of biosciences companies is at record highs, best exemplified by the roaring share prices of Aytu Bioscience, which jumped by a factor of 4 in just the single week from March 2 to 10, and has held steady ever since.
Other health companies who recorded impressive gains in March include Biomerica, iMac Holdings, Novan Inc, Vapotherm and Summit Therapeutics, among a host of others. In fact, 47 of the 177 companies (27%) on the S&P500 whose share price has jumped by at least more than 10% from this time last month are health technology and services companies.
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