2 Stocks That Are Soaring Because of the COVID-19 Pandemic

The pandemic is turning out to be more than just a health crisis, as many countries are forced to sacrifice their economies to stop the spread of the deadly virus.And even as many countries are now easing their lockdowns and re-evaluating opening up their borders, it may take considerable time for economic recovery due to the uncertain nature of the pandemic.Some, like Singapore Airlines Limited , may never be the same again.

The stock price has been hovering between S$0.03 to S$0.06 over the last five years till early Jan 2020. When Medtecs released its unaudited first quarter 2020 earnings, revenue had more than doubled from US$16.7 million to US$39.8 million, while net profit jumped 15-fold from US$227,000 to US$3.67 million.

Assuming annualised full-year net profit of US$14.7 million , earnings per share would soar to S$0.0371.Moving forward, it remains to be seen if such high demand can be sustained over the medium-term. From the fiscal year 2014 through to 2019 , revenue grew steadily from RM 2.3 billion to RM 4.8 billion.For Top Glove’s third-quarter fiscal year 2020 earnings, it reported record quarterly revenue of RM 1.69 billion, while net profit soared more than five-fold from RM 74.7 million to RM 347.9 million.

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