Hurricane Lee Picks Up Pace, On Track To Hit Northeastern US

Zinger Key Points
  • Hurricane Lee threatens U.S. Northeast; heavy rain increases falling tree risk.
  • Stocks like Generac and home improvement retailers may benefit from storms.

Hurricane Lee hit Bermuda early Thursday morning, bringing heavy rain and high winds to the region. The storm is picking up pace and moving faster than what some experts anticipated.

The storm is expected to hit parts of the U.S. North East, including Maine and Massachusetts, according to CNN. The mayor of Boston, Michelle Wu, held a press conference Thursday morning to discuss the storm and the city’s plan to deal with its impact if it does indeed hit parts of Boston and Massachusetts. 

Read Also: Texas Power Grid Implements Emergency Measures To Avoid Outages, Reasons Unclear

One of the biggest concerns with a storm like Hurricane Lee, is that heavy rain can soften soil, which makes trees much more susceptible to falling over from winds, which the hurricane will also bring. Falling trees can damage houses, cars and take down power lines causing outages. 

The Massachusetts Emergency Management Agency (MEMA) has recommended that people prepare emergency kits ahead of the storm. The kits include food, water, first aid kits as well as things like flashlights in case of power outages. 

Market Impact: Some stocks have the potential to gain from natural disasters and power failures. Home improvement retailers like Home Depot Inc HD and Lowe’s Companies Inc LOW can benefit if storms create a need for reconstruction. 

Generac Holdings Inc GNRC is a company that specializes in mobile generators that families can use to power their homes in case of a power outage. Generac’s stock tends to do well during widespread outages, like when Texas’s power grid failed in February 2021 due to a severe winter storm.

Now Read: Google Pixel 8 Launch Confirmed For October 4: Features, Price, And Everything We Know So Far

Photo: Shutterstock


Market News and Data brought to you by Benzinga APIs
Posted In: GeneralBostonHurricane LeeHurricanesMichelle Wu
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!