The 5 Best Stocks (And 5 Worst) of the Coronavirus Correction
The rapid spread of the COVID-19 coronavirus is wreaking havoc across the equity market. The S&P 500 lost nearly 13% from Feb. 19 to Feb. 28 - the fastest descent from all-time highs into correction territory in market history.
Virtually all stocks have been affected by the growing scare. The worst stocks of the correction so far have all been pummeled by issues stemming from coronavirus - in particular, from the resulting rout in oil prices. Most of the best stocks (a handful of companies that managed to finish in the black) delivered gains based on the revenue opportunity that COVID-19 potentially represents, though a couple benefited from completely unrelated good news.
To get a sense of what worked and what didn't, we screened the Russell 1000 Index, which includes the thousand largest companies on the U.S. equity market, for the best- and worst-performing stocks during the steep drawdown from Feb. 19 to Feb. 28. Both the Russell 1000 and S&P 500 lost 12.8% over that period - predictably, biotechnology, travel and energy stocks were well represented among the stocks with the biggest moves.
There were also a couple of pleasant surprises.
Have a look at the five worst and
