Hurricane season isn’t finished with us just yet.
The center of Hurricane Idalia is still over the open waters of the eastern Gulf of Mexico, but tropical downpours on the eastern side of the strengthening storm have already arrived in parts of Florida, says AccuWeather.com.
Flights are being canceled. Evacuations have been issued for 22 counties. All as the storm intensifies to a Category 3 storm with 125 mph winds. And, according to the Daily Mail, “morons” are taking selfies as the storm gets worse.
Also, according to CNN, this could be a record-breaking storm.
“The Tampa Bay area could see storm surge of 4 to 7 feet. Anything greater than four feet of storm surge inundation in the Tampa Bay area would set a new record there. Six feet of surge inundation would set a record in Cedar Key on the southern side of the Big Bend. While other storms, like Hurricane Ian, have produced higher storm surge, these levels would be unprecedented for this part of the Florida Gulf Coast.”
Idalia may also bust precedent as the first major hurricane in at least 172 years to track into Apalachee Bay in the sparsely populated Big Bend region.”
If you’re in the area, be safe.
And, if you’re looking to invest in the storm, you can always do so with the usual batch of hurricane-force ideas including:
Generac Holdings (GNRC)
For those looking for an investment idea with the storm, look to generator stocks. For example, oversold shares of Generac Holdings (GNRC). Not only is the stock starting to pivot higher, it could also benefit from surging demand for generators in preparation for potential power outages. GNRC last traded at $116.18. We’d like to see it refill its bearish gap around $155.
There are also home improvement stocks.
Home Depot (HD) and Lowe’s (LOW) historically stand to benefit from increased sales of plywood and other home improvement goods. This segment is “naturally positively exposed to preparation and recovery efforts,” says Morgan Stanley. These “typically see a boost in sales post-storm as damaged property is repaired.”
Xylem has a history of running higher in hurricane seasons, too. All as it works with “cities, counties and companies to create contingency plans that map out emergency response strategies and identify the required pumping equipment to react to natural disasters.”