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Wall Street's 11-year bull run has come to an abrupt end following the coronavirus outbreak. Fed's aggressive monetary policies as well as Trump's stimulus measures to fight the pandemic have done little to boost investors' sentiment.
Since we are now officially in the bear market, the million-dollar question is — which stocks are poised to gain despite the bearish market scenario?
Virus Fears Intensify
Per compiled data by Johns Hopkins University, since the virus was first detected in China late last year, the total number of infected people across the world has increased to more than 181,100, as of Mar 17. The virus has already spread to 155 countries and regions, claiming more than 7,000 lives, the compiled data suggests. The data also suggests recovery of 79,433 people.
To combat the global pandemic, The World Health Organization (WHO) is now urging countries to discourage people from attending mass gatherings. It has called on countries to test all suspected cases.
Stocks That Are Immune to the Crisis
There's no reason to fret although the 11-year bull run has finally come to an end.One can choose to keep an eye on companies that are engaged in making disinfectant wipes, developing vaccines and providing in-house entertainment. Such stocks will not only protect investors from downside risks but are likely to continue gaining since there seems to be no immediate respite.
We are presenting one stock with a Zacks Rank #2 (Buy) and three with a Zacks Rank 3 (Hold) that are well positioned to gain. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Headquartered in Oakland, CA, The Clorox Company (NYSE:CLX) is immune to the pandemic since there has been mounting demand for cleaning products. The maker of disinfectant wipes currently carries a Zacks Rank #3 and has witnessed positive earnings estimate revisions for fiscal 2020 earnings in the past 30 days.
Moderna, Inc. (NASDAQ:MRNA) , headquartered in Cambridge, MA, has tested its coronavirus vaccine in a clinical trial on one participant. Although the first set of immunogenicity data could be reportedly available by June, the biotechnology company skyrocketed 24.4% following the news. The stock with a Zacks Rank of 2 is likely to see bottom-line growth of almost 3% in 2020.
In the wake of limited movement and home confinement, there is growing demand for digital doctors. Being a provider of virtual access to high-quality care and expertise with a portfolio of services and solutions, Teladoc Health, Inc. (NYSE:TDOC) , headquartered in Purchase, NY, is a well-known name in the space. In 2020, the #3 Ranked stock is likely to see bottom-line growth of almost 19%.
With more people increasingly avoiding mass gatherings and calling off travel plans, they are spending record time on video games. Activision Blizzard, Inc. (NASDAQ:ATVI) , based in Santa Monica, CA, being a leading developer and publisher of console and online games, is well poised to gain. Notably, the Zacks Rank #3 ranked stock is likely to see earnings growth of 10.2% in 2020.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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