Last March, the S&P 500 dropped more than 30% in a rapid fashion at the onset of the COVID-19 pandemic. Investors panic sold throughout the crash, bringing big-name stocks down to extremely low levels.
In retrospect, these five stocks were some of the best to buy at a discount.
Considering more people were going to be shopping online, it was foolish that the stock even dropped at all. Since last March, the stock is up 101%, powered by strong sales and rapid revenue growth.
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Disney is a massive company, with many different revenue streams from amusement parks, sports on ESPN and now Disney+. When COVID-19 hit the market, Disney‘s stock went from around $139 a share to near $86 a share. Since last March, the stock is up 107%, powered mainly by its streaming service.
Boeing faced plane crashes and technical problems, dragging the stock down before COVID-19 spread in late 2019. The stock went from a high of around $440 to $340 in the months before the pandemic. The stock then dropped from $340 all the way to around $95 a share. The demand for airplanes was virtually gone overnight.
Currently, the stock is trading around $232, more than 140% higher than its lows last March.
2. NVIDIA Corporation (NASDAQ:(NVDA)) 282% Return Since March 2020
Shares of Nvidia dropped from around $75 (split-adjusted) to nearly $50 last March. Since then, the stock has skyrocketed, going from $50 all the way to $200. The stock recently underwent a 4-for-1 split, bringing shares down from close to $800 a share to near $200.
1. Penn National Gaming, Inc (NASDAQ:PENN) 782% Return Since March 2020
Before the COVID-19 pandemic, Penn National purchased a 36% stake in Barstool Sports. Then, the virus hit, and stocks crashed. Penn’s stock went from around $38 a share to nearly $8 a share.
Today, the stock’s trading around $70 a share, good for a 782% gain since last March.