During COVID-19, certain stocks were on the rise while others plummeted. Not surprisingly, e-commerce businesses and delivery startups were flourishing as a result of rising demand. Constant lockdowns allowed these stocks to demonstrate significant growth due to changing consumer behavior. Let’s list and analyze all major stocks that gained the most value during the COVID-19 pandemic.
Tesla
While not among the stocks that gained the most value, Tesla was on the rise during the COVID-19. Tesla’s pandemic era gains still do not compare to long-term performers like Apple and Berkshire Hathaway, but it is still a significant demonstrator of how electric vehicles are gaining popularity across the globe. Tesla had an extraordinary gain of 743% in 2020 far outpacing other stocks during this period.
Amazon (AMZN)
Amazon’s rise was not a surprise, as lockdowns caused a massive surge in e-commerce and cloud services sales. The most efficient way to buy goods and services was to use some kind of online services and delivery service. Amazon’s stock grew by almost 75% in 2020 as a result of increased demand for its products and cloud services.
Zoom Video Communications (ZM)
Zoom became super popular as an effective way to communicate with employees and employers. Zoom calls were a primary place for conducting conferences and learning activities. Many universities and colleges also started to use its services. As a result, the stock of Zoom gained 396% in 2020 as it became essential for remote working and virtual communication.
Netflix (NFLX)
Netflix was the best way to watch movies and shows while staying at home due to stay-at-home orders and lockdowns, which were emotionally difficult to cope with. The stock of Netflix saw a 67% gain in 2020 driven by a surge in subscriptions.
Peloton Interactive (PTON)
Peloton is a fitness company offering exercise equipment such as stationary bikes and treadmills. The firm also offers subscription-based services for live and on-demand fitness classes. The closure of gyms and the need for at-home fitness helped Peloton to gain popularity for its services and products. The stock increased by about 434% in 2020.
Moderna (MRNA)
Moderna is a biotechnology company focusing on drug discovery and development based on messenger RNA (mRNA) technology. It’s well-known for developing one of the first vaccines for COVID-19. As a result, the company’s stock jumped by almost 434% in 2020.
Wayfair (W)
Wayfair’s stock surged by 328% in 2020 benefitting from the boom in online shopping for home goods. It is an e-commerce company that sells furniture and home goods. The company operates online stores like Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.
Microsoft (MSFT)
Microsoft develops licenses and supports software, devices, and solutions. Its stock gained about 41% in 2020 as a result of increased use of its cloud and software.
Nvidia (NVDA)
Nvidia’s stock surged by 122% in 2020 driven by growing demand for gaming and data center products and mining. Nvidia’s GPUs became very popular for mining Ethereum.
Shopify (SHOP)
Shopify’s stock gained 184% in 2020. The company is an e-commerce platform allowing businesses to create online stores. It offers various services such as payments, marketing, shipping, and customer engagement tools.
The bottom line
COVID-19 was characterized by increased demand for e-commerce services, in-home entertainment, and delivery services. The main industries that benefited from lockdowns were e-commerce businesses, remote work and virtual communication, home entertainment and fitness, healthcare and biotechnology, and cloud services and digital transformation. Tesla was an exception, as it was mainly driven by increased demand for electric vehicles and the strong vision of its CEO. As we can see, difficult times can create new opportunities for companies that are operating in sectors that can provide solutions for ongoing trends.