The stock market has been pretty noisy as of late. Whether it is crashing or surging on any given day, it seems like the news is packed with people trying to spin the state of it. this article will be a little different. During times like these, it is important to analyze what industries have been most affected, and keep our eyes on what to do going forward with these stocks. To help you on your trading journey, we have pointed out a couple of industries/companies that have been the craziest lately. So, here are the 4 wildest rides in the stock market in March:
This one has been pretty obvious from the get-go. With millions of cancelled flights and plummeting ticket prices, airlines were the first to see a massive hit in stock price. Some airlines dropped over 30 points over the course of a week, and this spelled disaster for some– although, it spelled opportunity for others. On any given day, pretty sizable gains were had by day traders on airline stock as talks of government assistance and inevitable bounceback started. Clearly, these losses were not sustainable. Although they are far from recovering, airlines have seen extremely volatile changes in value and are easily one of the wildest rides of this month.
The Oil Industry
Another conflict going on a little more quietly in the background of the worldwide Coronavirus pandemic has been the oil war between Russia and Saudi Arabia. While for the everyday consumer this has just led to a cheap visit to the pump, for investors it has brought some of the most extreme single-day gains and losses of March. With other countries looking to get into the mix, and oil companies in an absolute frenzy trying to find a way to recover profits, these stocks have been all over the place. Add on to this that the oil war doesn’t really have the same inevitable snapback potential as the air travel industry, and you have yourself some of the most dangerous stocks around.
Big Retail Chains
Best Buy, Target, and Walmart have seen varying levels of insanity this past month. With Best Buy and Target walking almost in step with one another, Walmart came out looking the most stable. As nationwide shelter-in-place orders have largely eliminated in-store purchases, these large retailers have struggled to keep up with the clear big kid in the online sandbox. Amazon, aside form a pair of mid-month dips, has managed to retain hold on their value. Unfortunately, the in-store players are going to have to wait until their foot traffic returns before they will experience this stability.
Coming off of record highs in February, Tesla saw a massive dip in mid march. Dropping to just about half of it’s March 1st share price, the mid-march dip saw a partial recovery by the end of the month. While not the most up-and-down ride on this list, the sheer level of down has been astonishing for a company seemingly unrelated to any unique consequences due to the current times. With a high of $917 per share, the crash to $361 on March 18th had many excited investors pulled down to reality. Tesla has always been pretty wild, so who knows what to expect down the line at this point.