I wanted to draft this brief discussion to maybe shed some 💡 on the current situation. As we know, COVID has impacted retail severely. However, everyday we see stocks getting more and more green on hopes of a successful recovery. I am here to tell you that it is not going to happen. The damage isn’t going to realized until a couple of more months. Don’t believe me? Let me provide a few examples.
Let me preface this by telling you that I am located in a state that “fully” opened in early May.
Best Buy: Tried to go to here to buy a new TV and the store is still CLOSED. Only online orders and pick up. Correct me if I am wrong, but Best Buy relies heavily on foot traffic brick and mortar stores. Stock is still somehow up 29% this year! This is in a state that is declared fully OPENED! $BBY puts.
Ikea: Wanted to purchase a new desk, but the store is completely CLOSED. They only offer online order and pickup, but the pickup option on their website is BROKEN so I can’t even buy a desk there if I wanted to.
Let me remind you I am in a state that is FULLY open and still almost four months later the carnage continues. Parking lots are hardly full, people are NOT going to the stores as much, malls closed.
I can only believe that other STORES and states are going to be hit much harder. A swift recovery is false.
tl;dr COVID impact has a much bigger impact on retail than is being realized. Stocks are green in hopes of a full recovery, but that just isn’t the reality. This will be realized a few months down the road, especially when Jerome stops 🖨.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.
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