US markets plummeted into bear market territory Wednesday, March 11 as experts agreed the Coronavirus outbreak has become a full-blown pandemic.
Across America, legislators are debating whether to host public events, concerts, local parades and ballgames, and employers are facing the difficult choice of managing staffers remotely, or forcing employees to come into work and face a potentially lethal virus that, as of yet, remains without a vaccine or cure. Consumers are going to stores in droves, panic-buying everything from toilet paper to hand sanitizer.
And, they appear to be doing quite a lot of it at Target ($TGT).
The Minnesota-based big-box retailer's Facebook ($FB) Talking About Count has soared three-fold from recent lows, and to a level not seen except for one point in the last two years, as consumers head there in droves to stock up for what could be a lengthy time, effectively barricaded inside their own homes.
How much are people flocking to Target? Business Insider reported the retailer had to place a cap on how many of certain products (like disinfectant and hand sanitizer) shoppers could buy. And, the company announced it's stepping up cleanliness at its stores to thwart the virus' spread.
Its shares have been slammed for 17% in 2020 - but Target has proven itself a resilient retailer, in the past. If Target bounces back from the Coronavirus market swoon quickly, its shares may be back in demand as soon as it's ready to report earnings next.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.