Stay-at-home favorite picks Peloton Interactive (PTON +5.8%), Nautilus (NLS +8.0%), Kimberly-Clark (KMB +2.4%), Blue Apron (APRN +8.6%), Church & Dwight (CHD +2.7%), Hormel (HRL +4.4%), Philip Morris International (PM +4.5%), Chewy (CHWY +7.2%), Clorox (CLX +1.6%) and Flower Foods (FLO +2.7%) are all notably higher following the extension of federal social distancing guidelines to April 30.
The flip side of the trade (going out in public) is seeing share price declines across PlayAGS (AGS -11.9%), Eldorado Resorts (ERI -17.8%), Royal Caribbean (RCL -9.2%), Norwegian Cruise Line Holdings (NCLH -8.2%), Carnival (CCL -12.3%), Dave & Buster’s Entertainment (PLAY -11.9%), Caesars Entertainment (CZR -7.6%), Cedar Fair (FUN -13.6%), Red Robin Gourmet Burgers (RRGB -16.7%), SeaWorld Entertainment (SEAS -13.3%) and Kohl’s (KSS -4.4%).
The impact on all the companies mentioned of
social distancing is fairly obvious, but what’s not clear is the
duration of the lockdowns and the mentality of consumers once the
all-clear is sounded.
https://seekingalpha.com/news/3556333-social-distancing-pair-trade-runs-wild-again
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