With the NOAA predicting another above-normal season, it’s time to invest in top hurricane stocks, as we noted on June 8, 2021.
“For 2021, a likely range of 13 to 20 named storms (winds of 39 mph or higher), of which 6 to 10 could become hurricanes (winds of 74 mph or higher), including 3 to 5 major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher) is expected. NOAA provides these ranges with a 70% confidence,” says NOAA.
One of the latest ones to watch is Elsa.
According to The Weather Channel, “Tropical Storm Elsa is tracking northward through the Gulf of Mexico and will bring heavy rain, strong winds gusts, storm surge and isolated tornadoes to Florida through Wednesday. Elsa will then spread some of its impacts up the Southeast and mid-Atlantic coasts into late week.”
In addition, they note, “The 2021 Atlantic hurricane season is already off to a fast start, even faster than the 2020 season in several aspects.”
With the season just heating up, related stocks are just beginning to push higher.
Look at Generac Holdings (GNRC), for example.
When we mentioned this hurricane stock on June 8, it traded at $350. It’s now up to $427.
The company is the market leader in home standby generators and the leading global manufacturer of mobile generators for industrial use. Beyond the physical damage to homes and businesses, one of the biggest inconveniences of a powerful storm is electrical outages.
GNRC has a history of running higher around the beginning of the hurricane season. For the 2019 hurricane season, for example, it ran from about $54 to $100. For 2020, it ran from about $125 to $363. Now, it could move higher again.