The corona virus has been life changing for everyone across the globe. Thousand of people have lost their jobs and plenty of people have had their business collapse. While there have been companies that have happened to perform really well during the pandemic such as Amazon and Zoom, I thought it would be interesting to discuss industries/companies that have been completely screwed over. The first industry I would like to discuss is the Oil and Gas production industry. This industry has done so poorly during the pandemic because of the fact that people are not traveling anymore. A large majority of people have been approved to work from home while others may just not feel safe enough to go back to work or school. When you really start to think about all the travel that has been halted by this pandemic, you can really get a good idea about how much less oil and gas is in demand. This is exactly why this industry is performing so terribly. Company examples include Halliburton, Noble Energy and Apache.
Another industry that has performed quite bad during the pandemic is the Hotels, Resorts and Cruise Lines industry. This industry has had an underwhelming performance due to the fact that most people don't feel safe traveling and being around large groups of people. The CDC announced early into the pandemic that social distancing and mask wearing would be vital in keeping yourself and others safe from the virus. There has also been the banning of indoor restaurants and many types of business that revolve around people being in close confinement. All of these restrictions make Hotels, Resorts and Cruise Lines very unappealing to the consumer. Company examples include Carnival and Norwegian Cruise Line.
https://www.tradestation.com/insights/2020/03/19/19-biggest-losers-of-covid-19/
Those are definitely industries that have been affected in one way or another with this virus. When people were told to stay at home with the stay at home order no one was buying gas. When that order was in place, people started working remotely. Companies actually sold their office spaces because they saw that as an opportunity to save the company money. That means less people are going to be commuting to work, so how much will that affect the industry? People will eventually be traveling to other places or on vacation so that aspect will recover. When it comes to vacationing, I don't think anyone wants to take that kind of risk right now. Will people want to go on a cruise when a vaccine comes out? Will people be confident enough in their financial situations to even go to resorts or on vacations with such uncertainty of the future?
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