Buy these stocks to ride the pandemic 'pet boom,' according to Bank of America

Capuski | E+ | Getty ImagesPet ownership has soared this year during the coronavirus pandemic as stuck-at-home Americans seek to fill voids with canine and feline companionship, and the trend is benefiting a slew of pet retailer and health care stocks, according to Bank of America.

The Wall Street firm surveyed more than 1,000 U.S. consumers and 69% of respondents have at least one animal, while 37% had adopted a pet in the last six months. The results led the bank to believe that the trend of higher pet ownership will extend beyond the pandemic boost. "This indicates a large installed base of pets in the US, and a material increase in recent months," Bank of America's research analyst Elizabeth Suzuki, said in a note. "An increasing desire for more space could result in more Americans moving to homes that have more physical space for a pet."

The bank highlighted a number of stocks across various pet-related segments for investors to play the "pet boom," from online retail, to pet food producers, and to animal health care.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Jim Cramer says to buy Costco's stock after its 'absurd' post-earnings declineCNBC's Jim Cramer pushed back against Wall Street's concerns about Costco, saying investors should buy the stock after its post-earnings decline. It’s ridiculous that the market would penalize a company for compensating its employees properly. Yeah bc they didn’t have PS5s What these losers saying now ?
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

Buy the dip in gold but not stocks, say Citi’s global strategists“A political process that cannot accurately ascertain its leader, parties refusing to accept results and potential social disorder, all damage credibility and lower the confidence of investors,' Citi strategists say. Let the left accuse trump of this, when he wins the left will have to shut it’s trap and accept it like we did last time. That seems like the type of thing a biggie at Citi investments wing would want to tell retail stock buyers so they could gobble up the downturn. LamboJohnny Did you write this article ?
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »