The S&P 500 has taken a beating in 2020 in the wake of the novel coronavirus pandemic, which has stalled businesses and economies around the world. But a few companies have seen a surge in demand for their products and services while people stay indoors to contain the COVID-19 spread.
Chewy (NYSE: CHWY) and Glu Mobile (NASDAQ: GLUU) are two such companies resisting the economic downturn brought about by the novel coronavirus. While Chewy plies its trade in a lucrative niche that has a proven record of beating past recessions, Glu gives its users a way to keep themselves entertained as they stay at home. Not surprisingly, shares of both companies have beaten the broader market by huge margins so far in 2020. And they are probably not done yet.
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