As we all know, the novel coronavirus has paralyzed our economy. The impact is so massive that it’s causing the global economy to spiral into a recession.
And if that unfortunate depression comes into reality, struggling businesses would be forced to close and countless people will be officially jobless.
In the United States, the number of Americans who filed for unemployment reached a staggering 3.28 million. The number is so massive that it easily crushes the number of unemployed during the Great Recession and the all-time record.
During the not-so-great Great Recession, it was reported back in March 2009 that 665,000 Americans were jobless. While the highest record standing was recorded decades ago, back in 1982 where it reached 695,000.
Establishments like movie theaters, restaurants, shopping centers, and more are temporarily closed. It’s part of the drastic actions that are taken to flatten the curb and containing the virus. The pandemic paralyzed the economy, infecting major sectors, and the lives of millions of people all across the globe.
See, the looming recession is so massive, it’s even greater than the Great Recession. Again, it’s not great, it’s unfortunate.
And now, the common dilemma that we’re facing is how to earn money during this devastating pandemic. Well, if you’re resourceful and a very critical thinker, perhaps investing could work out for you.
COVID-19 Ill Market
You have probably heard in the news that the financial market is currently in chaos. That’s true.
Major indices such as the S7P 500, DOW 30, and the NASDAQ 100 are struggling in the market. And gigantic companies such as Tesla, Apple, Alibaba, and more are on their feet because of the virus.
See, before the outbreak began, Tesla shares were well above the 1,000-mark. But on March, as the coronavirus became a pandemic, the company’s share prices dropped to around 400.
Looking at the market, it should seem that investing wouldn’t be a great choice especially considering that companies are also heavily affected by the said virus. However, that is not the case for all companies.
Amid the negativity in the financial market, the stakes of some fortunate companies are standing out in the stock market.
Are you Familiar with Amazon?
Ever since the outbreak began, stocks have fallen. However, Amazon has proven that it has fuel to run through this rough road. The robust company has survived the Great Recession and it appears that the pandemic won’t be its downfall.
Because of the stay at home dilemma faced by the people, the company has seen a surge in demand. In fact, the online retailer had difficulties trying to keep up with the enormous delivery growth.
And as a solution, Amazon Prime is employing more full-time and part-time workers. A move that benefits the company, its sales, and investors, along with its consumers and workers.
The decision of Amazon to add more people to its roster supports its performance in the stock market while also working in favor of its sales.
On top of that, it gives the affected and displaced people an opportunity to earn during this crisis through the jobs. If the e-commerce firm continues to deliver deliveries, it would help keep the people inside their homes.
Technically, the business model of the company, paired with the wise decisions that it has made, is propelling it in the stock market.
Well, another company that’s been recently crushing it in the game is Teladoc Health. Ever since the outbreak began, Teladoc stock prices have seen outstanding movements in the stock market.
Of course, considering the business model of the company, it’s meant to rally during these times.
If you’re not familiar with Teladoc, it’s the largest and oldest player in the online health care industry. Teladoc Health is a telemedicine and a virtual healthcare servicing company from the United States.
Some of the services offered by the company include online consultations and medical opinions, as well as AI and analytics. In late March, the company’s own chief executive officer even said that the demand for online health care is on the verge of a new era.
Picture this, as people opt to stay at home as they shield themselves from the virus, it’s still unavoidable to catch allergies and other illnesses. Teledoc Health gives online consultations, limiting the reason for people to go outside.
It also gives other medical workers a platform where they can work from their own homes. The current crisis gives it the upper hand in the market.
Well, it’s unfortunate that the International Monetary Fund declared a recession. And that the forecasts predict lockdowns to last longer.
This is bad news, not just for the economy, but also for the citizens who are struggling to find a way to earn money during this time.
Perhaps trading could work out for you. Remember, you need to be a good critical thinker in this industry as it’s not easy to trade. Nevertheless, the hard work and risk in investing could actually pay off.
Also, before you start and jump on stocks, it’s best to find a credible broker or brokerage that would fit your needs. Find the one that could help you succeed in the field. There are a lot of brokerages out there, that’s why you need to only trust the best.
Aside from that, keeping yourself updated is a must in this field. You must be up to date with the latest and hottest news to be able to keep up with the ever-growing market.