- February 1, 2021
While it’s nothing like GameStop mania, shares of nearly every publicly-traded company in the region with at least $1 billion in revenue posted big gains in the year of the pandemic.
Only one of 15 companies, according to a Business Observer analysis of shares data from March 30, 2020 through April 1, 2021, posted a drop in stock price. And that company, Lee County-based car rental giant Hertz, is in bankruptcy.
Five companies, meanwhile, posted stock gains of at least 200% in the past year. Those five range significantly in industry, from a heavy equipment rental firm (Herc Holdings) to a phosphate mining giant (The Mosaic Co.) to a portfolio of restaurants (Bloomin’ Brands). Another four companies in the region posted gains of at least 100%.
Notably, the gains in share price come when many companies are posting declines in sales. (Revenue data is for the fiscal year, not the 12 months of the pandemic.) Revenue at Tampa-based Bloomin’ Brands, for example, even with a rise in delivery and take out, fell -23.24% — the results of less people eating out. Bonita Springs-based Herc, the biggest winner in share price jump in the region, with a gain of 436%, posted a year-over-year drop in revenue, down 10.55%.
One company that showed a parallel between share price gain and revenue increase was Clearwater boat retailer MarineMax, buoyed by a boost in outdoor recreation. Its revenue increased 21.95%, while shares posted a gain of 416.45%.