Got $600? Investors Are Buying Stock In Tesla, Nio And Pfizer With Stimulus Checks

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
  • Financials
  • Consumer Discretionary
  • Healthcare
  • 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 TSLA, Nio Inc - ADR NIO and Li Auto Inc 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.) 

See Also: How To Buy Tesla Stock And How To Buy Nio Stock

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 MRNA and Pfizer Inc PFE.

Next were financials, which saw 16.2% of support from respondents. Traders and investors told us Bank of America Corp BAC and Wells Fargo & Co 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. DIS was the most sought after company from the consumer discretionary group.

See also: How to Invest Your $1,400 Stimulus Check

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.

Source image: Unsplash.com

Posted In: Covid-19PandemicstimulusLong IdeasCrowdsourcingTrading IdeasGeneral