Wealthy Living

5 Best Performing Stocks And What To Buy Now

2020 was a weird year for the world economy. Even more surprising has been the impact of the economic fallout on the stock market.

It was a year when expensive stocks grew even more costly.

Given the high unemployment rate and the fall in GDP, everyone expected the stock market to crash. Yet, the markets bounced back and are higher than the pre-pandemic levels.

Professionals and amateurs were equally surprised at the stock market performance and the list of best-performing stocks last year.

Why Did The Stock Market Perform Well

Although the unemployment rate skyrocketed to the highest levels since the great depression, most white-collar jobs were unaffected.

The ability to work from home resulted in many jobs being saved. The usage of technology to solve the current crisis also resulted in earnings getting pulled forward several years.

The Federal Reserve, the Treasury, and Congress worked together to provide stimulus packages to various affected communities.

Best Performing Stocks (Nasdaq)

Zoom became part of our everyday vocabulary as everyone started working from home, and all events were conducted virtually.

Closure of gyms resulted in people working out at home using Peloton. Moderna using their mRNA technology took only six weeks to devise and manufacture initial lots of its vaccine.

Any list of best-performing stocks would be incomplete without Tesla.

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