(RightIsRight.co) – COVID-19 shutdowns caused millions of Americans to face unemployment and financial hardships. But, there’s one part of American society that hasn’t been negatively affected by the pandemic: Wall Street. Many companies actually chose to go public this year, creating a bustling stock market and new trading opportunities in 2021.
Here are four reasons that Wall Street is doing surprisingly well in spite of the coronavirus:
- Many businesses that went public benefited from the pandemic, for example, Doordash
- Investors are making incredibly high trades now, optimistic for a solid post-pandemic recovery
- Companies learned that virtual (online) investor pitch meetings work well, streamlining the initial public offering (IPO) process
- Some businesses chose to offer IPOs for reasons other than pandemic success. One such company was Airbnb, whose first trading day made this year’s record
Airbnb sold shares in its IPO above its targeted price range, sources say, valuing the company at $47 billion and making it the biggest U.S. public offering of 2020 https://t.co/yQTz0Z68Mr pic.twitter.com/nbhfHu5qrZ
— Reuters Business (@ReutersBiz) December 10, 2020
Even when our government struggles to agree on a stimulus package and there is uncertainty in our election process, American markets are still strong. Our financial sector is optimistic about our eventual recovery, and all of the companies going public echo that.
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