APRN - 2 Social-Distancing Stocks to Avoid
The novel coronavirus pandemic has taken a devastating toll on the United States, responsible for nearly 10,000 deaths so far. Economically, social distancing measures enacted by cities, states, and the federal government have shut down many businesses and led to millions of unemployment claims. The S&P 500 index is down roughly 23% from its 52-week high.
Not every stock has been hammered by the crisis. Investors are betting certain companies are poised to benefit from stay-at-home orders. Some of those bets make sense. Some don't. Investing in Peloton Interactive (NASDAQ: PTON) and Blue Apron (NYSE: APRN) may seem like a good idea, but they're two stocks that should be avoided.
When the pandemic-driven market sell-off began, shares of Peloton sank like most other stocks. At its low, Peloton stock had been more than cut in half from its 52-week high.