AZO - 1 Stock That Can Keep Cruising During a Recession
Let's face it: Folks need their cars, and cars don't care if there is a recession . AutoZone (NYSE: AZO) sells car parts to do-it-yourself customers and repair shops to quickly get cars back on the road in any economic climate.
Because of the recession-resistant nature of the business, the stock has performed admirably in past recessions and the current bear market. Here's why it could continue to outperform.
Record-setting inflation and fears of a global economic slowdown have gripped the stock market this year, but auto parts retailers like AutoZone have outperformed. Investors recognize AutoZone as a defensive company that can do well in any economic environment. Folks need their cars to get to work, school, or to pick up groceries, no matter the state of the economy. When your car breaks down, your life grinds to a halt, and you need to get it fixed as fast as possible.
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1 Stock That Can Keep Cruising During a Recession