The investments in the Wall-Street are focussing on shelf-stable foods and disinfectants. And if you have not guessed it already, yes, this is because of the Coronavirus outbreak.
Coronavirus has been causing havoc all over the world recently after the outbreak in China which killed more than 500 people. With the number of confirmed cases on the rise in South Korea and cases confirmed in Iran and Italy as well, it seems that the virus is here to stay.
The investors in Wall Street are looking to bank on this epidemic even though the market is currently experiencing slowness.
Investments are piling up on food and disinfectants which will be crucial at such a situation. Hormel Foods, and Campbell Soup Co have been performing well in the market while tissue makers Kimberly-Clark is also making big due to obvious reasons.
“These products are going to be more in use than others in the group given the spreading of the virus. It’s a knee-jerk reaction,” said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago noted to Reuters.
It would be interesting to see how this pay-off for the investors in the long run.
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