Ripples of fear have turned into tsunamis as crematoriums are being built. And some crematoriums workers are saying that they are receiving as many as bodies a day. Of course, even these numbers could be under-reported.
Coronavirus is still spreading at a rapid pace , and there’s no way the financial markets will stay immune. When the world’s second-largest economy comes to a standstill, there could be repercussions.
In my opinion, American Airlines (NASDAQ: AAL), Las Vegas Sands (NYSE: LVS) and Tesla (NASDAQ: TSLA) have the most to lose from the coronavirus panic and represent a potential shorting opportunity .
Coronavirus Could Hit all Airlines
A host of airline stocks have lost a lot of value lately because of the coronavirus epidemic. Over the last month, nearly all major carriers have lost over 12% in value.
American Airlines has been the worst performer. | Source: YCharts
Topping the list was American Airlines with a staggering 29. 3% decline. When you consider other issues surrounding the company, it looks like the worse is yet to come. The company is vulnerable in the face of unexpected shocks, like coronavirus, because of the high debt it carries.