There’s a lot of positive buzz in the stock market right now after both Pfizer (PFE Stock Report) and Moderna (MRNA Stock Report) recently reported positive vaccine news. The biotech companies reported 90% and 94.5% potential effectiveness for their COVID-19 vaccines, respectively. This news wasn’t great for all sectors though. Stay-at-home stocks have been under pressure on the heels of this positive vaccine news. This is because if there’s a vaccine that means more people will spend less time at home. This resulted in a pull-back for most of the top stay-at-home stocks.
Let’s not forget that most of these stay-at-home stocks have paid investors handsomely for those that invested throughout this year. some of the best stay-at-home stocks to watch like Docusgin (DOCU Stock Report) saw a 175.44% increase in its stock price year to date. While Teledoc (TDOC Stock Report) also notched in a 113.35% jump in its share price this year. So is the end of this massive rally for stay-at-home companies? The answer in my opinion is no, and here’s why.
Although it’s great that we are getting positive COVID-19 news, it’s still going to be a while before these vaccines are available to the masses. Even President-Elect Joe Biden recently came out and said, “It’s going to take a while for the vaccine to able to be available and distributed.” With that being said, could now be the best time for investors to buy stay-at-home stocks off the dip? Let’s take a closer look at 3 trending stay-at-home stocks that deserve your attention now.
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Top Stay-At-Home Stocks To Buy [Or Sell] In November: Zoom Video
Unless you’ve been living under a rock in 2020 chances are you’ve heard of the first tech stock on this list, Zoom Video Communications (ZM Stock Report). Zoom is one of the biggest winners in the stock market this year. When the pandemic started people and businesses flocked to Zoom for its video conferencing services. The tech stock has seen an astounding 493% increase in its stock price year-to-date. With lockdowns and work from home orders in place, you can see why Zoom stock has had the year it has.
The news of Pfizer and Moderna has caused concern for investors who think it could hinder the growth of Zoom and other stay-at-home stocks have experienced during the pandemic. It has triggered a pull-back in ZM stock price after hitting all-time highs in October of $588.84 a share. ZM stock closed at $399.15 on November 16th. The company uses a Freemium business model and users can upgrade to paid tiers to remove time limits, gain cloud storage, host more people, and a variety of other beneficial features. The company’s business model along with the pandemic has driven Zoom’s growth in the markets this year.
In the company’s latest quarter posted in August, the company reported revenue of $663.5 million, a 355% increase year-over-year. This was facilitated by a 458% jump in total customers with 370,200 customers. This is apparent as companies are addressing their business continuity needs to support the future of the remote work revolution. With solid figures supporting Zoom’s growth, do you think this Zoom pullback is a buying opportunity for investors looking for growth-stocks in the stock market today?
Top Stay-At-Home Stocks To Buy [Or Sell] In November: Peloton Interactive
Next up on the list of stay-at-home stocks is Peloton Interactive Inc. (PTON Stock Report) Peloton has been of the biggest gainers among all fitness stocks in the stock market hit year. Peloton is a fitness company that sells equipment like a spinning bicycle and a treadmill. It comes along with a screen so members can stream live and pre-recorded classes.
The COVID-19 pandemic was the “perfect storm” for Peloton because people who want to stay fit can take live classes without the risks of going to the gym or doing in-person classes. Because of this, sales skyrocketed for the company. Peloton has seen a 239.66% increase in its stock price year-to-date.
This month Peloton announced a multi-year partnership with GRAMMY Award-winning global entertainer Beyoncé. They also reported its first-quarter fiscal 2021 financial results. Peloton reported an increase in total revenue of an impressive 232% to $757.9 million. The company also reported its Connected Fitness Subscriptions grew 137% to over 1.33 million. While paid Digital Subscriptions rose 382% to over 510,000. This brought their total member count to over 3.6 million members. Despite the recent pull-back from PTON stock, it’s explosive growth in 2020 in conjunction with COVID-19 cases rising, can PTON stock continue to ride higher in 2020 and beyond?
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Top Stay-At-Home Stocks To Buy [Or Sell] In November: GoodRx
Last on the list, is GoodRx Holdings Inc. (GDRX Stock Report). GoodRx is a leading consumer-centric digital healthcare platform that operates in the United States. The company had its highly anticipated IPO in September of this year. GoodRx’s business model is gathering current prices and discounts to help you the consumer find the lowest cost pharmacy for your prescriptions.
The company currently has more than 325,000 health care providers in the United States who refer their patients to GoodRx. They’ve also got strong strategic partnerships with big pharmacy stocks Walgreens Boots Alliance (WBA Stock Report) and CVS Health (CVS Stock Report). This means that there a lot of consumers who can potentially benefit from using GoodRx’s product offering.
Last week, the company reported its Q3 2020 highlights. They reported an increase in total revenue by 38% year-over-year to $140.5M. GoodRx also reported a 29% gain in its monthly active consumers bringing it to 4.9 million. GDRX stock is currently trading at a range of $46 a share on average. With record-high positive coronavirus cases combined with strong strategic partnerships, could GoodRx stock be one of the best stay-at-home stocks to buy in the market now?
