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Temple & Webster share price surges with other ASX COVID winners

Temple & Webster Group isn’t the only ASX share that is taking off today as most states impose COVID-19 lockdowns and restrictions.
The post Temple & Webster share price surges with other ASX COVID winners appeared first on The Motley Fool Australia. –

The Temple & Webster Group Ltd (ASX: TPW) share price surged to a four-month high as several states rushed to shut their borders due to new COVID-19 scare.

The COVID spot fires across at least three states is creating winners and losers on the ASX this morning.

Online ASX shares bolstered by COVID spree

No prizes for guess which camp the Temple & Webster share price sits in. The online homeware retailer surged over 7% to $11.21 at the time of writing.

Other online retailers like the Kogan.com Ltd (ASX: KGN) share price and Cettire Ltd (ASX: CTT) share price have also joined the rally.

Never have so many Aussies been confined to their homes since the first outbreak of the pandemic over a year ago.

COVID lockdown and restrictions hit several states

Sydney and Darwin are in a lockdown, while Western Australia, Queensland, the ACT and Victoria have imposed restrictions.

Investors are betting that online retailers will experience another surge in sales from stuck-at-home consumers.

The outperformance of these ASX shares marks a turnaround in sentiment. Many online retailers that surged last year have either returned most, if not all, of their gains.

Supermarkets join the ASX COVID winner’s circle

Another group of winners are the supermarkets. The Woolworths Group Ltd (ASX: WOW) share price gained 2.6% to $37.74 while Coles Group Ltd (ASX: COL) share price increased 0.4% to $16.89. No doubt images of long lines of grocery shoppers on the news is helping fuel this sector.

There are also signs of a flight to safety. ASX shares with defensive earnings are also outrunning the S&P/ASX 200 Index (Index:^AXJO) this morning.

ASX defensive shares back in favour

These include healthcare shares like the CSL Limited (ASX: CSL) share price and Sonic Healthcare Limited (ASX: SHL) share price.

Rail operator Aurizon Holdings Ltd (ASX: AZJ) and telco Telstra Corporation Ltd (ASX: TLS) are also in favour.

ASX COVD-losers getting trampled

On the flipside, investors are dumping ASX shares that are seen to be losers from new COVID restrictions.

Precious few will be traveling interstate for the school holidays this time round. And that’s reflected in the 4.6% dive in the Qantas Airways Limited (ASX: QAN) share price.

The same sentiment is dragging on the Webjet Limited (ASX: WEB) share price, Flight Centre Travel Group Ltd (ASX: FLT) share price and Sydney Airport Holdings Pty Ltd (ASX: SYD) share price.

Get use to the volatility fellow Fools. Until we reach herd immunity (assuming our political leaders can decide what that is), the shutdown/reopening trade will be alive and well!

The post Temple & Webster share price surges with other ASX COVID winners appeared first on The Motley Fool Australia.

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More reading

The Kogan (ASX:KGN) share price jumped 10% this morning
Why CSL (ASX:CSL) could be an ASX 50 share to buy
ASX 200 down 0.1%: Metcash results, Costa returns, travel shares sink

3 ASX shares ready to go off this year: experts

‘Cracking buy’: Experts pick 2 enticing ASX transport shares

Motley Fool contributor Brendon Lau owns shares of Aurizon Holdings Ltd, CSL Limited, Sonic Healthcare Limited, Telstra Corporation Ltd, Webjet Limited and Woolworths Group Ltd. Connect with me on Twitter @brenlau.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd., Cettire Limited, Kogan.com ltd, and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET, Kogan.com ltd, Telstra Corporation Limited, and Webjet Ltd. The Motley Fool Australia has recommended Aurizon Holdings Limited, Cettire Limited, Flight Centre Travel Group Limited, Sonic Healthcare Limited, and Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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