Why Shares of WD-40 Soared in March

Shares in WD-40 (NASDAQ: WDFC) rose 16.4% in March, according to data provided by S&P Global Market Intelligence. The move is remarkable because it comes in a month when the S&P 500 actually declined 12.5%.

Given that the market is worried about the possibility of the global economy being tipped into recession by the measures taken to contain the COVID-19 pandemic, it's somewhat surprising to see such a move. After all, demand for WD-40's core product, a multi-use oil, lubricant, and cleaner of the same name, is also going to be tied to economic activity.

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Source Fool.com