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Corona Virus Stock Trading Opportunities - 3 Stocks You Should Focus on

Opinions
Corona Virus Stock Trading Opportunities - 3 Stocks You Should Focus on

As almost all the investment instruments have been trading on a bearish note, here are the 3 stock you should focus on during the time of COVID-19 Corona Virus outbreak.

March 12, 2020 | AtoZ MarketsA decade-long bull run on the global stock has come crashing down in recent weeks due to coronavirus outbreak. The S&P 500, Nasdaq and Dow Jones dropped more than 15% since mid-February on growing concerns of COVID-19 coronavirus. On the other hand, the oil prices also crashed 30% and the cryptocurrency market also dropped down. Bitcoin price suddenly jumped below $6,500 after Donald Trump banned flight from Europe due to the pandemic.

Germany’s DAX (DAX) and France’s CAC 40 (CAC40) dropped more than 6%. Italy’s main stock index is also in huge trouble due to coronavirus outbreak.

The major drop has been seen in Australia’s S&P ASX 200, which dropped below 20% from its recent highs. All the Asian stock market is following the same trend.

All the stocks are suddenly lost the momentum due to panic selling. Is it a good time to invest or trade stocks during the Corona Virus outbreak?

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The issues which are driving the sell-off are likely to resolve any time soon. It is hard to analyze how far the coronavirus will ultimately spread or its total impact on the economy will be. But, till now all the signs indicate that impact is still growing.

3 Stocks You Should Focus During Corona Virus Outbreak

As per the analysis, this market crash will be different than that of the 2008 recession. There might be a probability that tech stocks will recover faster after things go normal. Investors should focus on the stocks which are developing innovating products which are problem-solving. Here are the 3 stocks you might consider to buy:

Ericsson

One technology in the investment world that is catching the attention of investors is 5G Technology. 5G stands for fifth-generation wireless technology. 5G will make automation a necessity. It is because of the large number of network devices that will be deploying huge amounts of data. There is an endless list of 5G stocks that you can opt for. However, LM Ericsson (NASDAQ:ERIC) might be best to look for.

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) dropped 6.54% during trading on Tuesday. The stock traded as high as $7.50 with a volume of 1.10 Million. The stock had previously closed at $7.12.

The company has a current ratio of 1.32, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. ERIC has a market cap of $24.90 billion, a P/E ratio of 67.91 and a beta of 0.46. The stock’s 50 days SMA is $8.40 and its two-hundred-day moving average price is $8.58.

Pinterest

There is an enormous potential for growth for the visual search engine. Pinterest is one of the main player in the market. Pinterest saw its revenue jump from 46% in the Q4, and 51% for all of 2019. Also, an improving monetization has been stacked on top of its growing audience. It had roughly 335 million monthly active users worldwide at the end of 2019.

The 15% drop for the Pinterest stock will give investors a good chance to invest in. The previous open for the PINS is $ 14.23 per share with a total volume of $3.79 Million. The stock has a market cap of 9.59 Billion.

Pinterest sees revenue slowing to as high as 33% in 2020, but with the stock now down to the mid-teens, you can get in on what was one of the last summer’s hottest IPOs for less than its original price tag of $19, and well below the nearly $37 price point it hit in its summertime peak.

Apple

There is no right to invest in Apple stock. It will always be a good buy for the investors as soon as Apple keeps on launching innovative technology. It might not be surprising for you that Apple (NASDAQ:AAPL) appeared on this list. It is famous for the investors, mostly in the US. In fact, Apple is so popular among investors that its shares are roughly 3X more heavily traded than some of the more popular ETFs.

The US Stock market opens in a bearish note, most of the stocks have been trading lower than the open price. The same happens with the Apple stock price. Apple stock price dropped more than 6% at the time of writing with a volume of 20.37 Million. Apple holds a market cap of 1.25 Trillion. The indicators show that Apple stock is in a struggle due to the Corona Virus outbreak. As soon as the pandemic fades, the stock will go up again.

What do you think about these 3 tech stocks? Let us know in the comment section below.  

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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