The coronavirus sell-off in late February took with it companies from many different industries. This has created some buying opportunities for opportunistic investors.
There may be some merit to concerns about how the virus’s outbreak may impact some companies such as those in travel industries or those with impacted supply chains. But there are many companies that may see little to no negative impact from the virus yet their shares have taken a beating. Edge computing company Fastly (NYSE:FSLY) and digital ad buying specialist The Trade Desk (NASDAQ:TTD) are two examples of stocks that took a hit amid the coronavirus yet have fast-growing underlying businesses unlikely to be adversely affected in any major way.
Edge computing company Fastly reported stellar fourth-quarter results last month. Yet its great performance was quickly buried by headlines about the spread of the coronavirus and a subsequent market sell-off.
The company reported its fourth-quarter results after market close on Thursday, Feb. 20 and the market began its decline the following day. The S&P 500 proceeded to fall 12% between Feb. 21 and Feb. 28. Shares of Fastly were hit even harder over this timeframe, falling 20%.
But investors should… Continue reading at The Motley Fool