Consumer stocks can relate to many different types of companies. Consumer stocks consist of companies producing the things we use in our everyday lives. This could include food, hygienic products, toys, clothing, and more. Some top consumer stocks have been able to strive during the pandemic. These are companies that produce products that are essential regardless of the state of the economy.
This could include things like hygienic products as mentioned before, needs rather than wants. Consumer stocks that are based more on wants have been down. These are things like toys, clothes, cars, and more. These consumer stocks are down because people are not trying to spend a lot of money during these dark economic times.
So whether they are at lows and could bounce back, or are on the rise, there are many consumer stocks to watch. That is why investors have been looking at the consumer stock sector and putting in money. There are still many great potential consumer stocks to buy. So let’s have a look at two consumer stocks that are trending in the market.
- Top Tech Stocks To Buy Now According To Analysts?
- Best Tech Stocks To Buy For Your Portfolio In 2020? 2 Names To Watch
- Looking For Best Tech Stocks To Buy? 2 To Watch Right Now
The first consumer stock to watch is Mattel Inc. (MAT Stock Report) due to its recent month-long uptick. Mattel manufactures toys under many well-known brands. This includes Barbie, Fisher-Price, Hot Wheels, Matchbox, and many more. In 2019, Mattel was ranked at 575 on the Fortune 500 list. Mattel brought in more than $4.5 billion in revenue in 2019.
Shares of MAT stock were harshly affected by the coronavirus pandemic. Before the pandemic MAT stock price was at $14 a share on average. Then from February to March MAT stock fell as low as $7.20 a share on average. Since then, MAT stock price has been up on the rise. As of July 27th MAT stock is at $10.76 a share on average which places it rather close to its pre pandemic price. It is still $4 off but MAT stock has been rising. From June 29th to July 27th, MAT stock price rose 12.51%.
This could mean more positive gains are coming for MAT stock in the future. It will be interesting to see how MAT stock price progresses in the future. If Mattel can increase its sales then MAT stock has the potential to rise back up. That is why MAT stock is a consumer stock to watch.
[Read More] Netflix Or Roku: Which Is A Better Tech Stock?Top Consumer Stocks To Buy [Or Avoid] In August 2020: Hasbro
The second consumer stock to watch is Hasbro Inc. (HAS Stock Report) because of its potential in the market. Hasbro Inc. primarily produces toys just like Mattel. Some of Hasbro’s popular toy brands include Nerf, My Little Pony, Monopoly, Transformers, and many more. Hasbro was founded in 1923 and has grown to be a large consumer company since. In 2018 alone Hasbro brought in $4.58 billion in revenue. Hasbro has been known to make some notable acquisitions as well. Back in August 2019, Hasbro purchased the Canadian entertainment company Entertainment One. This acquisition was completed for $4 billion USD.
Well, just like many other consumer stocks the economic crisis did not treat HAS stock very well. At the beginning of the year HAS stock price was around $97 a share on average. Then March came around and HAS stock fell as low as $44 a share on average. This is a shocking decrease of 54.63% for HAS stock price. As of July 27th HAS stock is at $72 a share on average. This means that HAS stock price is on the rise. From July 29th to July 23rd HAS stock went from $72 a share to $79 a share. But on July 27th, HAS stock price fell back down to $72 a share.What Now
The reason that HAS stock fell so severely is because of its retail sales being down. The coronavirus pandemic also pushed back its film projects. Hasbro had a year to year sales revenue drop of 13%. If you include Entertainment One’s revenue, then Hasbro’s total revenue fell 29% from 2019. There is still some positive news for Hasbro though. Hasbro’s gaming division raised revenue by 11% because of the increase of gamers during the pandemic. That is why HAS stock is down but has the potential to rise up in the market. And that is why MAT stock and HAS stock are two consumer stocks to watch during the economic