Oil Crash 2020: 3 Top Energy Stocks to Buy
2020 has been brutal for energy investors. The Energy Select Sector SPDR ETF (NYSEMKT: XLE) is still down more than 40% this year, while many other sectors have come roaring back. For comparison, the SPDR S&P 500 ETF Trust (NYSEMKT: SPY) is down about 16%.
As a result, many investors are bargain-hunting in the energy patch. The problem is many energy stocks are still well down for a reason: The oil industry is a disaster right now, and it's likely that it could take the rest of the year -- and possibly into 2021 -- before it recovers. In the meantime, it's expected that a lot of oil companies that entered the downturn over-leveraged and without much cash will go belly-up.
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Source Fool.com
