JCP - Coronavirus Crash: 3 Stocks to Avoid
With so many businesses closing down over the novel coronavirus, there is a lot of talk about a recession. We've seen states shut down nonessential businesses, and plenty of employees are now working from home. Those who aren't so lucky might be out of the workplace and off the job for a while. People are hurting financially.
Considering the traumatic impact that the outbreak is having on travel and consumers' ability to go out, the financial situation for some companies is also getting dire. With that in mind, here are three stocks that I think are particularly susceptible to the pain and are best avoided.
Movie theater earnings are about to get whacked. There is no easy way to put it. It is already evident in the recent box office numbers, which show that people are avoiding movie theaters. The premiere of Daniel Craig's final turn as James Bond has been postponed until the fall, the sequel to A Quiet Place has been delayed, and Harrison Ford's The Call of the Wild is reportedly going to lose millions.