Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The coronavirus pandemic is a crisis that's "worse than the Great Depression," but investors should take a "leap of faith" and invest in stocks that would benefit from the reopening of the US economy, Tom Lee said in a CNBC interview on Friday.
Lee said he expects a "binary reaction" in the markets if there is a breakthrough in a COVID-19 vaccine or even cure, and the stocks that stand to perform the best if that happens are the "reopening stocks" like airlines, casinos, and hotels. "If these companies aren't destroyed on both the equity and credit side, especially credit, I think they're a lot more resilient than people realize," said Lee. "If they're showing durability here, these are actually really attractive companies because they survived the greatest stress test in over 100 years," he continued.
But as long as the markets continue to hold their 200-day moving average, that's "good news," said Lee. The economy is resilient and we can still get a recovery "even if we're wearing masks and social distancing," Lee added.
'Renowned strategist Tom Lee' You misspelled perma-bull.
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