Markets
The Hardest Hit Companies of the COVID-19 Downturn: The ‘BEACH’ Stocks
BEACH Stocks: $332B in Value Washed Away
The market’s latest storm has plunged the global travel industry into uncharted territory.
Since the S&P 500 market high on February 19, 2020, market capitalizations across BEACH industries—booking, entertainment, airlines, cruises, and hotels—have tumbled. The global airline industry alone has seen $157B wiped off valuations across 116 publicly traded airlines.
Investor confidence in cruise lines has also dropped. Between Carnival, Royal Caribbean, and Norwegian Cruise Line Holdings, over half of their market value has evaporated—equal to at least $42B in combined market capitalization.
Today’s infographic profiles the steep losses across BEACH companies. It looks at the ripple effects across individual companies and industries from the February 19 peak to date*.
*All numbers as of market close on March 24, 2020
Falling Off A Cliff
As the COVID-19 pandemic has spread to over 100 countries, many governments have implemented sweeping travel restrictions.
The impact across BEACH industries is far-reaching, with some valuations declining to nearly a quarter of their previous total.
Company | Ticker | Category | Market Cap: 02/19/2020 | Market Cap: 03/24/2020 | % Change |
---|---|---|---|---|---|
Booking Holdings | BKNG | Booking | $80.8B | $51B | -37% |
Expedia Group | EXPE | Booking | $17.1B | $8.1B | -53% |
Allegiant Travel | ALGT | Booking | $2.7B | $1.4B | -47% |
Live Nation | LYV | Entertainment & Live Events | $16.3B | $9.1B | -44% |
Six Flags | SIX | Entertainment & Live Events | $3.2B | $1.1B | -66% |
Cedar Fair | FUN | Entertainment & Live Events | $3.1B | $1.3B | -58% |
The Walt Disney Co | DIS | Entertainment & Live Events | $255.1B | $177B | -31% |
Penn National Gaming | PENN | Entertainment & Live Events | $4.3B | $1.6B | -63% |
Delta Air Lines | DAL | Airlines | $37.5B | $17.8B | -52% |
United Airlines | UAL | Airlines | $19.7B | $8.4B | -57% |
American Airlines | AAL | Airlines | $12.1B | $6.1B | -50% |
Southwest Airlines | LUV | Airlines | $29.5B | $19.7B | -33% |
Alaska Air Group | ALK | Airlines | $8B | $3.7B | -54% |
Air Canada (in USD) | AC | Airlines | $8.3B | $2.8B | -67% |
Carnival | CCL | Cruise & Casino | $30.8B | $10B | -67% |
Royal Caribbean Cruises | RCL | Cruise & Casino | $23.2B | $7.5B | -68% |
Norwegian Cruise Lines | NCLH | Cruise & Casino | $11.1B | $3.1B | -72% |
Las Vegas Sands | LVS | Cruise & Casino | $52.8B | $35.1B | -34% |
MGM Resorts International | MGM | Cruise & Casino | $16.2B | $6.2B | -68% |
Wynn Resorts | WYNN | Cruise & Casino | $14.6B | $7.2B | -51% |
Caesars Entertainment | CZR | Cruise & Casino | $10B | $4.2B | -58% |
Eldorado Resorts | ERI | Cruise & Casino | $5.4B | $1.3B | -76% |
Marriott International | MAR | Hotels & Resorts | $48.3B | $25.7B | -48% |
Hilton | HLT | Hotels & Resorts | $31.3B | $19.4B | -38% |
Hyatt Hotels | H | Hotels & Resorts | $9.1B | $4.9B | -46% |
Choice Hotels International | CHH | Hotels & Resorts | $6B | $3.2B | -46% |
Wyndham Hotels & Resorts | WH | Hotels & Resorts | $5.6B | $2.9B | -48% |
Park Hotels | PK | Hotels & Resorts | $5.5B | $1.9B | -66% |
Vail Resorts | MTN | Hotels & Resorts | $9.98B | $5.8B | -41% |
Marriott Vacations Worldwide | VAC | Hotels & Resorts | $5.3B | $2.2B | -59% |
For instance, the consequences on various travel bookings brands have been severe. Booking Holdings, the parent company to Booking.com, Priceline, Kayak and OpenTable, witnessed share price declines of over 35% since the peak.
Empty Stadiums
Across the entertainment industry, ticket sales for concerts, movies, and other events are falling precipitously due to cancellations or postponements.
Upwards of $5B in global film industry losses could result from the COVID-19 pandemic.
Chilling footage of the Las Vegas strip, as well as other tourist epicenters around the world, shows deserted streets as visitors opt to stay home instead.
Bracing For Impact
Meanwhile, worldwide airline revenue is estimated to fall by as much as $113B in 2020.
In under two months, the share price of Delta Airlines has fallen over 50% as the company anticipates a capacity reduction of 40%, the largest in its history.
Company | Ticker | Feb 19 2020 Share Price | Mar 24 2020 Share Price |
---|---|---|---|
Delta Air Lines | NYSE:DAL | $58.5 | $26.9 |
United Airlines | NASDAQ:UAL | $79.4 | $33 |
American Airlines | NASDAQ:AAL | $28.3 | $13.9 |
Southwest Airlines | NYSE:LUV | $56.89 | $37.7 |
Alaska Air Group | NYSE:ALK | $65.2 | $28.9 |
Air Canada (in CAD) | TSX:AC | $45.3 | $15.1 |
The global airline industry—which employs over 10M people—supports $2.7T in global economic activity across an average of 12M passengers per day.
Aruba, Jamaica No More
As for the cruise line industry, global operations came to a 30-day standstill in mid-March. Over 800 COVID-19 cases and 10 deaths across three cruise ships have been discovered.
“COVID-19 on cruise ships poses a risk for rapid spread of disease, causing outbreaks in a vulnerable population, and aggressive efforts are required to contain spread.”
—CDC
Carnival, a Miami-based company, has witnessed its share price fall to around one third of its February 19 value. Similarly, Royal Caribbean Cruises, which has seen its market cap plummet almost 70%, announced that it will suspend trips until mid-May.
Occupancy Dilemma
As the hotel industry is impacted by the global outbreak, share prices have also realized a significant slump. In the U.S., an estimated $1.4B in revenue is vanishing each week. If occupancy levels fall by just 30% this year, the U.S. hotel industry could see approximately 4 million jobs wiped out.
The Baird/STR Hotel Stock Index, which serves as a benchmark for the sector’s overall health, has declined over 47% year-to-date.
Global Stimulus Response
A number of travel industries around the world are calling for stimulus packages.
On March 25, the U.S. Congress finalized a historic $2T deal, which includes $25B in grants for the airline industry. In the UK, officials are providing small businesses in hospitality and leisure grants that are worth up to $30,000 as part of its $400B bailout plan.
China, Germany, Italy, and Spain have outlined multibillion dollar proposals in response to COVID-19. Overall, at least eleven countries have announced stimulus plans along with the European Commission and the IMF.
When Will the Travel Wave Hit Again?
Amid the COVID-19 pandemic one thing is clear: the impact on the travel industry will have a marked effect on the broader economy.
Travel is closely linked with oil, as transportation accounts for over 60% of global demand. In Q2 2020, global oil consumption is projected to fall by 25M barrels per day.
Along with this, discretionary consumer spending makes up over one third of America’s GDP. The impact of the pandemic across this sector is expected to contribute to a 10% decline or more in U.S. GDP for the second quarter.
As conditions materially improve around the world—with China beginning to open up flights—positive signs are emerging from under the surface. Will BEACH industries quickly bounce back as infection rates drop, or will a slow and painful recovery unfold in the months ahead?
Markets
Graphene: An Investor’s Guide to the Emerging Market
The market value of graphene could reach $3.75 billion by 2030. As the emerging industry shows fast growth, it also faces obstacles.


Graphene: An Investor’s Guide to the Emerging Market
Graphene is an atomic-scale “honeycomb” that is revolutionizing the world of materials and capturing investor attention.
Experts predict that its market value could reach the billion-dollar threshold by 2027 and soar to a staggering $3.75 billion by 2030.
In this infographic sponsored by HydroGraph, we dive into everything investors need to know about this exciting industry and where it’s headed.
Promising Properties
Graphene possesses several unique physical properties which contribute to its wide range of potential applications.
- 200 times stronger than steel
- Harder than diamonds
- 1,000 times lighter than paper
- 98% transparent
- Higher electrical conductivity than copper
- Heat conductivity: 5 times that of copper
- 2,630 m² of surface area per gram
Since its first successful isolation in 2004, graphene’s properties have opened the doors to a multitude of commercial applications and products.
Applications of Graphene
Graphene has permeated numerous sectors like electronics, energy, and healthcare because of its impressive array of end uses.
Industry | Revenue CAGR of Graphene Across Industries, 2022-2027 |
---|---|
Biomedical and Healthcare | 52% |
Electronics and Telecommunications | 34% |
Energy | 25% |
Aerospace and Defense | 16% |
Other End-User Industries | 17% |
Graphene’s antibacterial properties make it highly suitable for medical instruments and implants. Furthermore, it has shown remarkable potential in helping treat diseases such as cancer.
Another one of the material’s applications is its ability to emit high-speed light pulses, or to combine graphene’s thinness and high-conductivity to create the tiniest possible light sources.
All in all, it’s difficult to sum up graphene’s properties and potential applications in one place. The supermaterial has been covered and cited in thousands of academic journals, and comes up with over 2 million search results on Google Scholar.
Graphene Commercialization
Graphene has evolved from a scientific breakthrough to a commercial reality in less than two decades, putting it firmly on the radar of many future-focused investors.
But despite the strides the industry is making, it is still in its infancy, and therefore challenges exist on the path to widespread adoption. Here are the top five commercialization obstacles perceived by industry players.
Obstacle | % of survey respondents |
---|---|
Cost | 31% |
Production Methods, Scaling, and Distribution | 21% |
Material Quality/Consistency | 17% |
Lack of Knowledge/Awareness | 15% |
Dispersion/Handling | 14% |
When transitioning cutting-edge materials from the laboratory to consumer products, challenges like these can be expected. But one company is tackling them head-on.
By producing 99.8% pure graphene, and ensuring batch-to-batch consistency, HydroGraph is helping meet the growing demand for graphene products across industries while addressing challenges like cost, scale, and quality.

Interested in learning more? Explore investment opportunities with HydroGraph now.

-
United States3 weeks ago
Charting the Rise of America’s Debt Ceiling
By June 1, a debt ceiling agreement must be finalized. The U.S. could default if politicians fail to act—causing many stark consequences.
-
Wealth3 weeks ago
Ranked: The World’s Top 50 Endowment Funds
Endowment funds represent the investment arms of nonprofits. See the worlds top 50, which collectively have over $1 trillion in assets.
-
Economy3 weeks ago
Visualizing the American Workforce as 100 People
Reimagining all 200 million of the American workforce as 100 people: where do they all work, what positions they hold, and what jobs they do?
-
Banks1 month ago
Visualized: Real Interest Rates by Country
What countries have the highest real interest rates? We look at 40 economies to analyze nominal and real rates after projected inflation.
-
Markets2 months ago
Ranked: The Largest Bond Markets in the World
The global bond market stands at $133 trillion in value. Here are the major players in bond markets worldwide.
-
Markets2 months ago
Visualized: The Largest Trading Partners of the U.S.
Who are the biggest trading partners of the U.S.? This visual showcases the trade balances between the U.S. and its trading partners.
-
VC+3 weeks ago
Coming Soon: Here’s What’s Coming to VC+ Next
-
Maps5 days ago
Mapped: Renewable Energy and Battery Installations in the U.S. in 2023
-
Economy3 weeks ago
Visualizing the American Workforce as 100 People
-
Technology5 days ago
Nvidia Joins the Trillion Dollar Club
-
Batteries3 weeks ago
How EV Adoption Will Impact Oil Consumption (2015-2025P)
-
Misc2 days ago
Comparing Population Pyramids Around the World
-
Wealth3 weeks ago
Ranked: The World’s Top 50 Endowment Funds
-
United States3 weeks ago
Charting the Rise of America’s Debt Ceiling