With hurricane season nearing, it’s time to consider storm-prep stocks, we said in early April.
At the time, we added that, “According to The Weather Channel, the 2024 hurricane season could be one of the most active on record.”
With that, we also mentioned four storm-prep trades, including;
Generac Holdings (SYM: GNRC)
When we mentioned GNRC in April, it traded at around $132. Today, even though hurricane season hasn’t started yet, it’s up to $152.32.
GNRC is the company that markets home standby generators and the leading global manufacturer of mobile generators for industrial use. Beyond the physical damage to homes and businesses, one of the biggest inconveniences of a powerful storm is electrical outages. Better, the stock has a history of pushing higher, as hurricane season heats up.
There are also home improvement stocks.
Home Depot (SYM: HD) and Lowe’s (SYM: LOW) historically stand to benefit from increased sales of plywood and other home improvement goods. Neither has moved in the right direction just yet. But give it time with the nearing storm season.
Xylem (SYM: XYL)
Xylem has a history of running higher in hurricane seasons, too. All as it works with “cities, counties and companies to create contingency plans that map out emergency response strategies and identify the required pumping equipment to react to natural disasters.”
Since highlighting it in early April, it ran from about $127 to a high of nearly $145.
