During the initial onset of the novel coronavirus, most large-cap businesses struggled, and Costco Wholesale (NASDAQ:COST) was no exception. Along with the major market indexes, COST stock lost value quickly.
Soon afterward, though, many defensive stocks staged a swift comeback. This showed how a company Costco can remain rock-solid during times of crisis, and for months afterward.
As the Covid-19 remains, it’s clear that the pandemic isn’t over. Yet, there’s another crisis in the financial headlines right now, and its impact on the American consumer is profound.
Amid this worrisome backdrop, however, Costco is actually thriving and there’s data to prove this. Moreover, a famous value investor recently gave his verbal stamp of approval to Costco, and this should provide extra motivation to consider a long position.
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