Are These Top Consumer Stocks On Your Watchlist For 2020?
Consumer stocks can relate to anything that people consume. This can be things such as retail, food, e-commerce, and more. The market for top consumer stocks has been down due to the recent economic crisis. Retail stores closed, many restaurants closed, but e-commerce rose. So retail stocks have been rather volatile in the stock market lately.
Companies able to stay afloat during the current state of the world have seen great benefits from it. Even with reopening going on, many consumer stocks are still struggling to survive. So put simply some retail stocks have been able to rise up while others have remained down.
There have been reports about a second wave of the coronavirus. This is bringing some consumer stocks down in fear they may fall again. That does not mean that all of them are falling, or there isn’t potential for some consumer stocks. That’s why two consumer stocks to watch are going to be discussed here. Because some consumer stocks still have potential or have already been rising up.
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Top Consumer Stocks To Buy [Or Sell] In 2020: Beyond Meat
The first consumer stock on this list, Beyond Meat Inc. (BYND stock report) made a full recovery in stock price. Beyond Meat was founded in 2009 and is based out of California. It focuses on producing plant-based meats. It sells its products in the United States and many other countries. Some of its products include the Beyond Burger, Beyond Beef, Beyond Sausage and more. Its goal is to provide a great alternative to regular hamburgers without using any meat.
Shares of BYND stock were around $117 a share before the economic crisis. BYND stock price saw a dip when the crisis began but has managed to recover. Not only has BYND stock managed to recover, but it is also much higher than its previous price. There has been about a 20.5% increase in BYND stock price. As of June 26th, BYND stock is at $141 a share on average. This is great news for investors of BYND stock. This increase is significant especially after BYND stock price went down below $60 at the peak of the economic crisis.
If Beyond Meat continues to grow its customer base, BYND stock price will continue to rise. BYND stock saw a 6.6% decrease in share price due to a deal with McDonalds ending on June 25th. If this deal gets renewed it can bring BYND stock price back up. It is unsure what will happen with BYND stock at the moment. But its recent movement in the market makes it a consumer stock to watch.
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Top Consumer Stocks To Buy [Or Sell] In 2020: The Gap
For many, this next consumer stock to watch, The Gap Inc. (GPS stock report) is a household name. The company was founded in 1969 and is based in California. It has grown to be a retail giant with many stores across the world. Recently Gap struck a deal with Kanye West’s brand Yeezy on a 10-year partnership. The clothing line will create hoodies, T-Shirts, and more and will be sold at most Gap retail locations starting next year. Kanye West will still hold sole ownership of the YEEZY brand, this is just a partnership. Yeezy was valued at $2.9 billion back in April 2020. The retail giant expects to bring in 1 billion a year due to this collaborative partnership.
Shares of GPS stock rose 15% when this news was announced. The GPS stock price was around $10 a share before the announcement. After news broke, GPS stock rose as high as $14.21 a share. As of 2 pm on June 26th, GPS stock is at $12 a share. This means that the hype has gone down but GPS stock price has managed to keep its momentum. When more news comes out regarding this partnership it could cause GPS stock to rise even more.
So it is clear that partnerships can greatly affect consumer stocks. You saw how GPS stock went up due to a new partnership with a large company. You also saw how BYND stock went down due to a partnership ends. This means that when new partnerships are being rumored you should stay posted about consumer stocks. You never know which consumer stock will rise to new highs next.