Boy, it’s amazing how fast things can change in the market.
On Tuesday morning, the markets opened up, continuing the grind upward that we’d experienced for most of the month of May.
By mid-day, the bottom had already started to fall out.
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35 states are now reopening or about to reopen after long coronavirus-driven shutdowns. The United States has shed about 26 million jobs over the pasts two months, so clearly the hope is that companies rehire the employees they’ve had to let go, and that business quickly goes “back to normal.”
But consumers have been absolutely battered over the past two months; there’s less disposable income for them to spend. As the opportunity to spend re-emerges, folks in these states are going to have to decide just what it is they’ve missed most during the lockdown.
And therein lies another lucrative “Reality Gap”: The hope for a rapid “V-shaped” economic recovery versus the more likely slow, phased return to economic normalcy.
Other countries that are further along in their reopening process give us some clues as to how this could play out in the United States. And here, we’re seeing some early signs that some industries are experiencing a quicker recovery than others.
So I’ve isolated a few stocks, all trading at bargain basement prices, that should be the first to benefit from that severely pent-up demand…