The COVID-19 pandemic and the resulting economic shutdown have been detrimental to many industries and companies around the world. A reported 60% of businesses that closed due to the pandemic are now permanently closing as business owners have struggled to make ends meet during this unpredictable time. But not all companies have been struggling: Some […]
The COVID-19 pandemic and the resulting economic shutdown have been detrimental to many industries and companies around the world. A reported 60% of businesses that closed due to the pandemic are now permanently closing as business owners have struggled to make ends meet during this unpredictable time. But not all companies have been struggling: Some have fared very well throughout the pandemic and made many tens, or even hundreds, of billions of dollars during this time.
Which companies have fared the best throughout these unprecedented times? Using information supplied by the Financial Times, we compiled a list of the 25 companies that added the most equity value between Jan. 1, 2020, and June 17, 2020. With work from home becoming the new norm, it’s no surprise to see the top of the list flooded with technology companies, and e-commerce companies also saw large gains due to people choosing to shop online rather than at brick-and-mortar stores. Amazon, the word’s largest online retailer, saw its net market capitalization gain skyrocket to $401.1 billion during this time. With such incredible gains in just the first half of the year, could Amazon add $1 trillion in equity value in 2020 alone?
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The company that grew the most during the coronavirus pandemic so far was Amazon, with a net market capitalization gain of $401.1 billion between the start of 2020 and June 17. It comes as no surprise that this powerhouse grew as much as it did during this time: With stores closed, many consumers turned to Amazon to fulfill their shopping needs. Not only were people buying necessities there, but the website saw an increase in sales of things like housewares, home improvement supplies, puzzles and games, and even furniture. Since Amazon acquired Whole Foods a few years ago, the company also saw their online grocery sales triple during this time as more people began having their groceries delivered.
The biggest technology companies, Microsoft and Apple, saw net market cap gains of more than $200 billion each during this time period, putting them in second and third on the list. Technology companies make up 60% of the top ten businesses that have seen the most growth during the pandemic.
The industries that have experienced the most success during the COVID-19 pandemic are technology and e-commerce. Tech companies that help people stay in touch with one another, like Facebook and Zoom, experienced a large amount of growth. With so many stores closed and shoppers unwilling to leave their homes, e-commerce companies like Amazon and Shopify saw a huge jump in sales, too. Even with fewer people driving, some automotive companies had great successes during this time, too. Tesla had the fourth largest growth, with $108.4 billion, and even Audi made it onto the list with a market cap gain of $37.8 billion.
What other companies or industries were you surprised to see do so well during the coronavirus pandemic?