The world is learning how to function in a time where most businesses and services are having to slow down or close completely. Some technology companies are facing manufacturing disruptions while airlines are grounded. Over the past month, uncertain economic times have seen investors either sell off their stocks in panic or adding to their holdings as shares drop.
Here are 5 top traded stocks for March:
The technology giant has been forced to close all its physical stores around the globe, with Chinese stores only recently reopening and has experienced a slowdown in production. However, the flow on effect means Apple’s (NASDAQ: AAPL) shares have fallen around 17.8% so far this year.
The company has found a number of ways to monetize and no longer relies on the sale of iPhones as its main revenue. Apple has a strong focus on digital sales and subscriptions in its App Store. It’s services revenue jumped but 17% year-on-year in the fiscal first quarter of 2020. Considering the company’s net cash flow is almost $100 billion, it’s likely Apple has what it takes to continue to make strides during the downturn.
Many of us are restricted to our homes right now so sipping cocktails on a beach in Hawaii doesn’t seem feasible. A number of airlines have been hit hard by the virus outbreak, forcing to stop flights completely and let go staff. Boeing (NYSE: BA) is no exception, having to ground its flagship 737-Max, with little hope that it will be in the air anytime soon.
If the coronavirus wasn’t enough, the company is also facing investigations in Washington over two deadly crashes. These two factors saw Boeing lose more than 50% of its value in March and another 12% on the first day of April. I wouldn’t be flying with this stock anytime soon as even with potential government bailout money, the company has a long way to travel.
The electric car company is proving to be a huge hit with millennials who are investing more and more in a sustainable future. Tesla (NASDAQ: TSLA) has been one of the top trading stocks in March 2020 and recently its share jumped around 17% on April 3 as the business made more vehicles in the first quarter than expected.
However, the delay in the construction of a new plant in Germany is bad news for Tesla. Also, not many people are racing to purchase new cars as the coronavirus leaves many of us quarantined in our homes. Despite the uncertain future ahead, the stock has stayed in the green and shares made gains of over 200% since October 2019 to a February high.
The cruise line’s stock has suffered a huge drop so far this year, down almost 80%. Royal Caribbean (NYSE: RCL) was forced to stop its operations as the coronavirus broke out and considering its in around $2 billion debt the future isn’t looking positive.
To add fuel to the fire, the government announced it wouldn’t be offering bailouts similar to the likes of airlines and oil companies as the service isn’t essential. However, Royal Caribbean did manage to raise $3.84 billion in back up financing between two revolving lines at two banks. This could help the liner get through the next few months, but it’s not looking hopeful for people to get on cruise ships anytime in the near future.
The natural gas, oil, and natural gas liquids producer has been one of the most traded energy sector shares for the month of March. Chesapeake Energy’s (NYSE: CHK) share plummeted by over 37% for the month and the company is only valued at $422 million, down from its high of $30 billion. This comes as a result of low oil and natural gas prices along with the virus outbreak. The stock is running on fumes and there is every chance the company could file for bankruptcy.
MyWallSt operates a full disclosure policy. MyWallSt staff currently hold long positions in companies mentioned above. Read our full disclosure policy here.
Contributing Writer at MyWallSt
Alsha is a contributing writer to MyWallSt. Alsha’s favorite stock is Shopify because not only does she enjoy a bit of online shopping, but she believes the e-commerce solutions business is going to continue making big gains.