BP Editors
The COVID-19 pandemic continues to ravage the stock market, with the first quarter closing with some of the steepest downturns in history. Some industries have been hit even harder than most and will likely continue to hemorrhage cash for the foreseeable future.
“BEACH” Stocks:
- Booking
- Entertainment and Live Events
- Airlines
- Cruises and Casinos
- Hotels and Resorts
Companies in the travel and entertainment sectors (the BEACH stocks) have lost a staggering $332 billion in value from February 19, 2020 (the peak of the S&P 500) to March 24, 2020.
These companies, for example, have sustained catastrophic losses in value due to coronavirus:
Disney -31%
NYSE: DIS
$255.1 Billion to $177 Billion
Booking Holdings -37%
NASDAQ: BKNG
$80.8 Billion to $51 Billion
Expedia Group -53%
NASDAQ: EXPE
$17.1 Billion to $8.1 Billion
Allegiant Travel -47%
NASDAQ: ALGT
$2.7 Billion to $1.4 Billion
Cedar Fair -58%
NYSE: FUN
$3.1 Billion to $1.3 Billion
Six Flags Entertainment -66%
NYSE: SIX
$3.2 Billion to $1.3 Billion
Live Nation Entertainment -44%
NYSE: LYV
$16.3 Billion to $9.1 Billion
Penn National Gaming – 63%
NASDAQ: PENN
$4.3 Billion to $1.6 Billion
Delta Airlines -52%
NYSE: DAL
$37.5 Billion to $17.8 Billion
United Airlines -57%
NASDAQ: UAL
$19.7 Billion to $8.4 Billion
American Airlines -50%
NASDAQ: AAL
$12.1 Billion to $6.1 Billion
Southwest Airlines -33%
NYSE: LUV
$29.5 Billion to $19.7 Billion
Alaska Air -54%
NYSE: ALK
$8 Billion to $3.7 Billion
Air Canada -67%
TSX: AC
$8.3 Billion to $2.8 Billion
Las Vegas Sands -34%
NYSE: LVS
$52.8 Billion to $35.1 Billion
Wynn Resorts -51%
NASDAQ: WYNN
$14.6 Billion to $7.2 Billion
Eldorado Resorts -76%
NASDAQ: ERI
$5.4 Billion to $1.3 Billion
Caesars Entertainment – 58%
NASDAQ: CZR
$10 Billion to $4.28 Billion
Hilton – 38%
NYSE: HLT
$31.3 Billion to $19.4 Billion
Marriott -48%
NASDAQ: MAR
$48.3 Billion to $25.7 Billion
MGM Resorts International -68%
NYSE: MGM
$16.2 Billion to $6.2 Billion
Park Hotels -66%
NYSE: PK
$5.5 Billion to $1.9 Billion
Wyndham Hotels & Resorts -48%
NYSE: WH
$5.6 Billion to $2.9 Billion
Vail Resorts -41%
NYSE: MTN
$9.9 Billion to $5.8 Billion
Choice Hotels International -46%
NYSE: CHH
$6 Billion to $3.2 Billion
Marriott Vacations Worldwide -59%
NYSE: VAC
$5.3 Billion to $2.2 Billion
Hyatt Hotels -46%
NYSE: H
$9.1 Billion to $4.9 Billion
Carnival -67%
NYSE: CCL
$30.8 Billion to $10 Billion
Royal Caribbean Cruises -68%
NYSE: RCL
$23.2 Billion to $7.5 Billion
Norwegian Cruise Line -72%
NYSE: NCHL
$11.1 Billion to $3.1 Billion
While the airlines specifically will receive aid from the CARES Act, a large chunk of the $2 trillion relief aid will go to big businesses. The injection of cash will certainly help many companies and their workers, but falls far short of recovery. It’s not known how long it could take for the BEACH stocks to recover — or if they will be able to at all.
