It’s no secret we’re in a highly uncertain economy created by the efforts to control the spread of the coronavirus pandemic. The U.S. unemployment rate, while showing some improvement recently, is still hovering around 8% and is significantly higher than the 3.5% it was in February just prior to the pandemic.
In this uncertain economic environment, it can be reassuring for investors to own stock in businesses that are not only surviving but are thriving in the midst of COVID-19.
Peloton Interactive (NASDAQ: PTON), Netflix (NASDAQ: NFLX), and Spotify (NYSE: SPOT) are three tech companies that are thriving despite (or to some extent, because of) the coronavirus. Let’s find out a little more about them and why these three stocks are currently doing so well.
Image source: Peloton.
1. Peloton: The home fitness revolution
Peloton’s business is on fire due to its very popular exercise bikes coupled with