Chlorox Shares Explode as Coronavirus Spreads

While the overall market was suffering as the coronavirus spread in the nation, one company was hitting highs not seen since the 1970’s!

That company is Clorox.

Clorox shares have soared since the virus spread here in the states. They are up more than 17% since the beginning of the year, bringing the company’s market value to $22.7 billion.

With lockdowns and stay-at-home orders, many consumers went into panic mode and started shopping for disinfectants and cleaning supplies, including Clorox.

The Oakland, California-based company controls about 50% of the market in disinfecting wipes.

The company’s wipes and bleach have been approved by the Environmental Protection Agency as effective products against Covid-19. Clorox also recently increased production and created a new product supply team to keep up with its supply
chain.

There are now over 1.5 million confirmed cases of coronavirus in the world with a little over 88,000 deaths.

Disclaimer: We have no position in Clorox Co. (NYSE: CLX) and have not been compensated for this article.