The summer of 2020 was a busy one for online retailers as COVID-19 lockdowns temporarily closed physical stores and forced consumers to shop online. A number of online retail stocks saw their share prices skyrocket over the next several months.
If you had invested in these stocks back in August 2020, it would have looked like a very smart move. If you’d sold them within the next year or so, you would have turned a tidy profit. But if you had held on to them and still owned them today, you would’ve probably taken a beating and almost certainly wouldn’t have gotten “rich” off them.
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Online retailers that benefited from COVID-19 restrictions saw a steep decline in business after those…
