Thom Guidi and Ryan English spoke with Steve Watkins of the Cincinnati Business Courier about the performance of local stocks in 2020. Thom weighed in on how healthcare stocks reacted to the pandemic, and Ryan shared some insight on how stocks in the financial industry were impacted, as well as thoughts on the two biggest companies in Cincinnati, Kroger and P&G.
Here are a few excerpts from the Cincinnati Business Courier article published on January 4:
Health care stocks tend to do well in economic downturns because people will make sure to spend on their health, Thom Guidi, co-chief investment officer at Kenwood-based investment advisory firm Foster & Motley, told me. Throw in the pandemic that had a direct impact on health care and it helped plenty of stocks in that sector.
Consumer products giant Procter & Gamble Co. (NYSE: PG) and supermarket operator Kroger Co. (NYSE: KR), Cincinnati's two biggest companies, gained 11% and 10%, respectively.
"Kroger and P&G’s sales both benefited from the pandemic," English said. "The market may be looking for confirmation that these sales trends translate into a more permanent shift."
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