Contrary to popular belief, the recent Coronavirus pandemic has not sunk the Corona Beer sales in the US. Viral Facebook posts and other things online say Corona has taken a hit in their sales due to the Corona virus. The post plays on the public’s intelligence. Not saying the public is dumb, but they have a lack of knowledge. When someone sees something online, they have a tendency to believe exactly what they read, and don’t thin for themselves. According to Corona, “Corona Extra sales grew 5% in the U.S. in the latest four-week period, which ended Feb. 16”. Clearly, the Coronavirus has not hindered the sales as much as people think. This spike in Corona Extra sales “nearly doubling the 52-week trend for the brand.” Now this spike is only in the US market. The company is not worried about the international hit considering a very small amount of its sales come out of the US. Only 2.7% of the company’s $8.1 billion in sales of all its products were outside the U.S. in fiscal year 2019.” This shows the company is focused on the US market and nothing else really. I believe the spike can be attributed to people trying to be ironic and drinking Corona products. What do you guys think?
BoweryJE22
It is crazy how much people attributing to the virus, I think it is overblown.
People do tend to believe almost everything they read on the internet. There is a wide spread panic over the virus when really no one has been reading the facts. Society has built a culture of leading with your emotions instead of logic. There has been a narrative of fear and as the saying goes if you tell a lie enough, you will start to believe it.
fear is such a odd concept, its amazing how it has driven the stock market to such an all time low. Just as FDR said “the only thing we have to fear is fear itself.”
I would be interested to know the history of their stock sales, whether any uneducated/ignorant investors sold without even analyzing the upward trend of the companies sales.