In the U.K., the government is enforcing more restrictions in the wake of rising COVID-19 case numbers. In the U.S., President Donald Trump says the same won't happen here. However, a lot could change in the coming weeks and months as the coronavirus pandemic continues to be a problem that just won't go away.
If you want to take the safe route with respect to your portfolio, now may be a good time to look at investing in companies that will do well even if the government issues stay-at-home orders in the near future. Among the companies that could prosper under this scenario are Abbott Laboratories (NYSE: ABT) , Adobe (NASDAQ: ADBE) , and Target (NYSE: TGT) . Here's why you should consider investing in these stocks to minimize your risk in case there are wide-scale shutdowns.
Medical device maker and testing company Abbott Labs is diverse enough that its business will likely continue to do well even if the economy shuts down again. The company has been integral in helping people test for COVID-19. In August, it unveiled BinaxNOW, an antigen test that only costs $5 and takes 15 minutes to generate results. Management plans to produce as many as 50 million tests in October, and as of Aug. 14, it had shipped more than 7 million rapid ID NOW tests, over 6 million molecular tests, and more than 13 million antibody tests since the outbreak began. With BinaxNOW, those numbers will get a whole lot higher.
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3 Stay-at-Home Stocks to Buy If You're Worried About More Shutdowns