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3 Work from Home Stocks to Buy Now as the Omicron Covid Variant Spreads

Stock MarketsNov 29, 2021 12:30PM ET
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© Reuters. 3 Work from Home Stocks to Buy Now as the Omicron Covid Variant Spreads

With the rise in COVID-19 infections in Europe and the looming danger of the highly transmissible Omicron variant, we think it could be wise to bet on work-from-home stocks DoorDash (DASH), Roku (NASDAQ:ROKU), and Teladoc Health (NYSE:TDOC). Wall Street analysts expect these names to gain significantly in the coming months. Read on.With Europe witnessing a sharp rise in COVID-19 infections, some countries, including the Netherlands and Austria, have imposed partial lockdowns to prevent the spread of the virus. Investors were watching the European situation closely when the World Health Organization last week announced the emergence of a heavily mutated strain of the COVID-19 virus named ‘Omicron.’

As of November 28, 2021, the Omicron variant had spread worldwide, with thirteen infection cases reported in the Netherlands and two each in Denmark and Australia. U.K. Health Minister Sajid Javid said that the variant “may be more transmissible” than the Delta strain and that “the vaccines that we currently have may be less effective.” Against this backdrop, the work from home trend could be sustained in the near term. According to a Small Business Trends report, 32% of all employees worldwide will be remote workers by the end of 2021, up from 17% of employees in 2019.

So, with countries once again imposing social distancing norms and travel restrictions to keep the new variant at bay, it could be wise to add work-from-home stocks DoorDash, Inc. (DASH), Roku, Inc. (ROKU), and Teladoc Health, Inc. (TDOC) to one’s portfolio now. Wall Street analysts expect these stocks to soar in price in the near term.

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3 Work from Home Stocks to Buy Now as the Omicron Covid Variant Spreads
 

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