Although the events of 2020 are in many ways unprecedented one can look at the 2002 SARS outbreak in Asia as a possible analogy, after all it involved a lot of people in China staying at home.
Netease, a gaming company, was one of the few publicly listed stocks that reported financials at the time.
This table (h/t Selcouth Capital Management) shows what happened to quarterly financials at Netease at the time.
Netease saw a huge boost to revenue and a re-rating. Yet, eventually revenue slowed against tough comps and the stock deflated.
Will the same happen to the current crop of beneficiaries?
