As the number of cases of COVID-19 continues to surge in the U.S. and around the world, President Trump has extended national social-distancing guidelines for several more weeks. By encouraging Americans to stay at home and distance themselves from other people, the president and other government leaders are trying to slow the spread of the disease caused by the novel coronavirus.
While these measures are hurting many businesses, others -- like the three that follow -- are poised to benefit.
These stocks can help you grow your wealth during this period of social distancing. Image source: Getty Images.
DocuSign
Social-distancing directives are driving companies to adopt new ways of doing business. Electronic agreement technology, which allows companies to sign contracts digitally via the internet, is in particularly high demand. DocuSign (DOCU -0.26%) is the leader in e-signatures, and its business is booming.
DocuSign's revenue surged 39% year over year to $974 million in fiscal 2020, and management expects sales to climb another 30% in fiscal 2021. The gains are being driven by e-signature adoption in a host of industries, and the pace of this adoption is likely to accelerate due to the current need for social distancing. As an example, with the coronavirus-related shutdown threatening to delay mortgage closings, lawmakers recently introduced new legislation that would permit the nationwide use of electronic notarizations, in which the notary and signer are in different locations.
DocuSign is a clear beneficiary of these trends, and its stock appears set to deliver strong gains to investors in the coming years.
If you find yourself feeling lonely because of social distancing, you're not alone. Millions of people are stuck at home and unable to visit family and friends. To combat their loneliness, many people are spending more time on social media. Facebook (META 0.43%), of course, is the leader here, and it's another great stock that can help you grow your wealth during the pandemic.
Notably, it's not just Facebook's namesake platform that's set to benefit from social distancing. The social media titan also owns Instagram and WhatsApp, both of which sport more than a billion users of their own. Additionally, with so many people isolating at home and unable to visit their favorite real-world locations, Facebook's Oculus virtual reality business is also likely to enjoy increased demand from consumers.
Even during a global pandemic, we remain social creatures. Facebook gives you your best chance at profiting from this inherent aspect of human nature, and its stock is a compelling buy today.
Amazon
Social distancing is also making it much more difficult to shop at physical retail stores. This, in turn, is a boon for e-commerce sites -- and no company stands to benefit more than Amazon.com (AMZN 3.43%).
Amazon's best-in-class fulfillment network is helping to keep people supplied with food and other household essentials. Many of these people are first-time Amazon shoppers, and they're likely to remain customers after seeing firsthand how convenient the online retail giant's shopping experience can be.
Social distancing will undoubtedly accelerate the growth of e-commerce, and Amazon's stock is a great way for you to claim your share of the industry's profits.
