“Top Glove Corp. is up 428% this year in Kuala Lumpur, the most on the MSCI Asia Pacific Index, while Supermax Corp. has leaped more than 1,200%, compared with Tesla’s 259%”Investors often prefer to put their money in glamorous stocks and to shun the mundane. But once these mundane stocks warm the cockles of the hearts, investors would relentlessly pursue their shares and send the prices to the moon. And that’s what has happened to glove stocks....
It is hard to predict Covid-19 before it happened and equally as hard to pre-determine the winners prior to the pandemic.
For one, the glove maker stocks have performed crazily since Covid-19 has struck. Even Bloomberg has to make a comparison to Tesla, and said that the high tech company’s stock returns were of no match to the low tech glove makers.
I quote Bloomberg’s article, A 1000% Rally Has Glove Maker Stock Mania Outpacing Even Tesla