Writing: What Is Diversification?
Victoria Anne Wise
Stocks can have their value wiped out overnight if a company declares bankruptcy, is caught up in a scandal, or something happens to the industry as a whole. Take airline stocks, for example; when the pandemic first hit, airline stocks plunged. EasyJet lost 60% of its value in a month. Even now, in July 2021, with travel opportunities opening up again, it is still down 45%.
Meanwhile, Coca-Cola took a 36% hit in the same month but was only down by 8% at the end of 2020. This highlights the importance of investing in different types of stocks: EasyJet and Coca-Cola are cyclical and defensive, respectively.
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