Are These Top E-Commerce Stocks On Your August Watchlist?
Since the pandemic began, many e-commerce stocks are on the rise. Of course, many e-commerce stocks fell when most of the stock market did from February to March. But now that things have entered the summertime, there are many top e-commerce stocks to watch. Lots of e-commerce stocks have made a full recovery or are on their way. That is why investors are keeping an eye on e-commerce stocks.
You see, people don’t want to go shop in person during the pandemic. In addition to this, many stores are closed giving consumers no other choice. E-commerce has been a growing sector for a long time. Some shopping malls have closed entirely simply due to a lack of customers. The pandemic boosted e-commerce websites to a level they had never been at previously.
So an already growing sector that just received a boost, sounds great right? Well that doesn’t mean that all e-commerce stocks are performing well at the moment. That is why you need to do proper research before investing in e-commerce stocks. So now it is time to look at two e-commerce stocks that have been trending in the market after the pandemic started.
Read More
- 2 EV Stocks To Buy And Hold Over The Next Decade?
- These Top 2 Tech Stocks Are Thriving Despite The Coronavirus
- Is Now A Good Time To Buy These Aerospace Stocks?
Top E-Commerce Stocks To Buy [Or Avoid] In August: OverStock.com
The first e-commerce stock to watch is Overstock.com Inc. (OSTK Stock Report) due to its recent momentum in the market. This e-commerce website sells home products like furniture, bedding, and much more. It sells closeout items and new items as well. In 2019, Overstock.com Inc. brought in $1.459 billion in revenue.
Overstock held an earnings call and stocks soared. Before the earnings call, OSTK stock was at around $60 a share on average. Then OSTK stock price rose 25% higher after the earnings call to around $78 a share on average. As of July 31st, OSTK stock has settled around $72 a share. This still places OSTK stock price 20% higher than it was just two days prior on the 29th. OSTK stock is actually much higher than it was before the pandemic. Back in February OSTK stock price was only around $8 a share on average. That means that OSTK stock has essentially risen 800% from February to July.
If OSTK stock price can keep the momentum it currently has, it could reach new heights. That positive earnings call drove OSTK stock even higher proving that it did not reach a stale point. Now it will be interesting to see what happens to OSTK stock price in the coming months. That is why OSTK stock is an e-commerce stock to watch. Keep an eye out for news coming from Overstock that could positively (or negatively) affect its stock price.
[Read More] Top Biotech Stocks To Watch In August 2020
Top E-Commerce Stocks To Buy [Or Avoid] In August: JD.com
The next e-commerce stock to watch is JD.com Inc. (JD Stock Report) due to its recent rise in the market. JD.com is a Chinese e-commerce site that focuses on electronics. The company sells things like phones, computers, and more. Large company Tencent has a 20% stake in the company. JD.com has also been known to do some investing. The company has put money into AI, drones, autonomous technology, and more. In 2019, JD brought in $82.865 billion USD in revenue.
Shares of JD stock have been on the rise since the start of the pandemic. When the market crashed, JD stock price was not affected too harshly. JD stock started the year being around $40 a share on average. Since the pandemic has begun, JD stock price has rose to a new high of $65 a share. As of July 31st, JD stock price has stabilized at around $62.85 a share on average.
Bottom Line
If JD.com and Overstock.com can keep up this momentum in the market it will be great for both companies. The e-commerce business is ever-growing and these two seem to be on a long term rise. You must do lots of research before you invest though, obviously. While some e-commerce stocks are rising it does not mean that all of them are. But essentially, that is why OSTK stock and JD stock are two potential e-commerce stocks to buy.
