With the ongoing coronavirus crisis sweeping across the world, the economy and value of companies plummeting has been headline news for weeks – but how has this impacted on people buying stocks?
Well, there has certainly been an increased increase – as indicated by new research.
Data gathered by Learnbonds.com indicates that global Google searches for ‘buy stocks’ have spiked by at least 466% between March 31, 2019, and March 27th this year. According to the data, there was a significant spike in the wake of rising COVID-19 cases.
March 2020 records highest searches
From the data, interest in buying stocks began in the last week of February. The phrase had a popularity score of 30, which remained the same in the first week of March.
In the second week of March, the searches shot up by 663% and later 809%. Between March 22 and 27th, the searches had increased by 466%.
According to the report: “The spike in searches correlates with the increasing cases of the novel coronavirus that have crippled most global economies.”
With the effects of Coronavirus being felt all over, most stocks have seen their worst falls in history. The searches could mean that investors are aiming to take advantage of rock-bottom prices by buying certain stocks and seek to profit from it in the future.
The data further indicates that most searches originated from North America. During the period under review, the US and Singapore had a peak search score of 100 followed by Canada at 85.
Outside North America, United Arab Emirates has a popularity score of 39 searches with Australia occupying the fifth slot at 34.
Notable stocks that might be beneficial to investors include healthcare, technology, and consumer goods as they have a great potential of bouncing back.