Got $600? Investors Are Buying Stock In Tesla, Nio And Pfizer With Stimulus Checks
Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about when they are managing and building their personal portfolios.
This week we posed the following question related to how traders and investors plan to use their stimulus money:
What sector of stocks will you buy with your stimulus check?
- Electric Vehicles
- Consumer Discretionary
- Consumer Staples
Of the respondents, 58.8% of traders and investors told us they will buy electric vehicle stocks. Investors most frequently cited Tesla Inc (NASDAQ:TSLA), Nio Inc – ADR (NYSE:NIO) and Li Auto Inc (NASDAQ:LI) as the stocks on the top of their wishlists. (Of course, only a fraction of one share of Tesla could be bought with $600 — shares closed last week at $880.02.)
Additionally, 18.1% of investors are putting their stimulus checks in healthcare companies. The most-wanted stocks in the healthcare industry were coronavirus vaccine producers Moderna Inc (NYSE:MRNA) and Pfizer Inc (NYSE:PFE).
Next were financials, which saw 16.2% of support from respondents. Traders and investors told us Bank of America Corp (NYSE:BAC) and Wells Fargo & Co (NYSE:WFC) are the top stocks they will be adding to their portfolio with their $600 checks.
Respondents told us they were mixed on putting their $600 to use in consumer staples (3.8%) and consumer discretionary (3.1%) companies. Walt Disney Co. (NYSE:DIS) was the most sought after company from the consumer discretionary group.
This survey was conducted by Benzinga in January 2021 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 500 adults.
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