Why Procter & Gamble May Be a Better Buy Than Netflix
Investors saw the stock market begin to cycle out of high-flying tech stocks into more consumer-defensive positions last November as the likelihood of a recession grew. Rampant inflation, rising gas prices, and interest rates poised to rise made stocks that had done especially well now seem as if they would retrench.
That movement away from the tech sector actually played out with individual consumers as well, who apparently stopped paying for Netflix (NASDAQ: NFLX) subscriptions in greater numbers and began stocking up on consumer goods once more. This led consumer products giant Procter & Gamble (NYSE: PG) to post the biggest growth in organic sales in 20 years.
Image source: Getty Images.
Source Fool.com
