AAPL - Perhaps the energy sector was the real pandemic winner
Much ink has been spilled over the companies and sectors benefitting most from the pandemic. Behavioral changes stemming from health concerns, paired with historic fiscal and monetary stimulus, fueled share price performance for many perceived "pandemic winners." Salesforce (CRM) replaced Exxon (XOM) in the Dow Jones Industrial Index (DJI), retailers generated record profits (TGT) (WMT), app-based mobility services went public at a breakneck pace, and indoor bicycles (PTON) became bigger business than outdoor bicycles. During the pandemic, Uber (UBER) food delivery was gaining customers, and CEO Dara Khosrowshahi was talking about entering new multi-trillion dollar markets. But Wall Street was listening. DoorDash (DASH) went public mid pandemic, raising billions in an IPO. Delivery Hero, already public, issued billions in equity and borrowed even more to finance growth. In Asia, Grab (GRAB) raised billions in a SPAC offering, as Didi (DIDI) and Zomato did the same through IPOs. The increased attention from
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Perhaps the energy sector was the real "pandemic winner"