3 Digital Stocks That Will Benefit With Americans Stuck at Home Due to Coronavirus
With President Trump declaring a national emergency on March 13, the novel coronavirus pandemic is banishing millions of Americans to their homes -- either due to self-imposed quarantine because of illness (take care of yourself and get well soon!), corporate orders to work from home, school closures, or the general shuttering of many retail and entertainment stores.
The prospect of an ensuing economic slowdown has sent the stock market into an unprecedented tizzy. Nevertheless, money never sleeps, not even during times of viral-induced panic. While disruption is high, many businesses are set to benefit. Online shopping is sure to give Amazon a bump, and retailers like Walmart and Target that deal in everyday essentials should be just fine too. While restaurant stocks are a bloodbath, I think Domino's Pizza and its best-in-breed app and delivery capabilities will also come out on top.
Entertainment stocks are a different story, though. If recession strikes because of COVID-19, discretionary spending is one of the hardest-hit areas of the economy. Such pain is already being felt as theme park operators have closed. But Americans stuck at home still need something to prevent going stir-crazy. Three stocks that should benefit from that are Electronic Arts (NASDAQ: EA), Comcast (NASDAQ: CMCSA), and Roku (NASDAQ: ROKU).
Source Fool.com
