Along with a huge spike in Google search interest for boats and lawns, another HOT industry in the wake of COVID-19 appears to be camping. As shown below, Google searches for camping are at 5-year highs and holding pretty steady at this higher level over the last month or so.
Obviously a beneficiary of a new camping boom would be a stock like Camping World Holdings (CWH). Prior to COVID, Camping World (CWH) appeared to be in pretty big trouble. Shareholders could not have been happy with the 92% decline seen from a high in the mid-$40s at the end of 2017 to $3.40/share when it bottomed in mid-March.
As shown below, since bottoming on March 18th, CWH is up more than 1,000% on an intraday basis and 870% on a closing basis.
What we find most interesting about CWH is how incorrect investors initially were in predicting the impact that COVID would have on the stock. During the COVID crash from mid-February to mid-March, CWH fell 77%. So much for “efficient” markets.
With the share price back into the high $30s from a low in the $3s in less than five months, we doubt there are a lot of major CWH shareholders crying about 2020 the way most others are! Click here to view Bespoke’s premium membership options for our best research available.