Published on 11 Oct 2022 on Insider Monkey via Yahoo Finance
10 Best Hurricane and Natural Disaster Stocks to Buy Now
In this article, we discuss 10 best hurricane and natural disaster stocks to buy now. If you want to read about some more natural disaster stocks, go directly to 5 Best Hurricane and Natural Disaster Stocks to Buy Now.
Climate change in general and global warming in particular have started to create new problems for forecasters and economists alike. According to Paul Krugman, a top economist and an op-ed columnist for the New York Times, not only are hurricanes getting stronger, but they are also intensifying more rapidly than they used to, making it difficult to issue early warnings for communities in their path. This has left these communities more vulnerable to natural disasters and compounded the economic impact of these storms for local and state governments.
For example, Hurricane Ian, a large and destructive Category 4 Atlantic hurricane that struck the Florida coast recently, leaving hundreds dead, destroying countless homes, and risking under-pressure supply chains, is estimated to be among the top-10 costliest storms in the US, resulting in about $70 billion to $120 billion in economic damage, per news publication Bloomberg. The disaster has left coasts in the US at particularly high risk of more flooding, property damage, and unemployment.