US consumers are spending so much on their pets, it became a one hundred billion dollar industry in 2020, as announced by the CEO of the American Pet Products Association (APPA) at last year’s Global Pet Expo. The money consumers spent was typically on insurance, products, vet care, and other services.
If you’re interested in investing in pet stocks, you’re probably wondering what the best companies are for pet stock insurance. Luckily, we’ve got that information for you right here.
The following companies are making themselves known to investors in a big way, coming up as the top five pet stocks to invest in.
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Chewy has become one of the top online retailers for pet supplies and food. Investors should be prepared that popular companies come at a price.
It’s recommended to wait until you notice a dip, then purchase your stock in this company before it inevitably bounces back up.
PetFresh provides consumers with premium quality food for their furry friends. Their products include natural farm-raised meats, garden veggies, and fruits. As long as consumers are bonded with their pets, pet food stocks are smart to invest in.
3. PetMed Express
PetMed Express features pet medication and supplies for animals. To avoid higher prices later, you should invest in this pet meds stock before they rise again. Based on the recent past, their stocks could likely peak in the summer.
4. Idexx Laboratories
Idexx Laboratories has built a reputation in the industry as a leader in veterinarian services software. Their focus on preventative care pays off when it comes to consumers.
Americans will pay to take care of their pets.
PetIQ provides owners with premium products, veterinary services, and more. Being a one-stop shopping service makes it easier for consumers to spend money. And, unlike other companies, they can partner with top stores for in-store veterinary care.
More of the Best Pet Stocks
Another company that should be mentioned is Lemonade. They’ve recently started offering pet insurance to meet the needs of their targeted millennial consumers. They also are in the real estate industry, giving investors more reason to invest.
The final mention is the largest producer of vaccinations for pets and livestock, Zoetis. The company started as a subsidiary of Pfizer before becoming an independent firm. Due to the pandemic, their stock is up.
Impressive Pet Insurance Stocks
There are plenty of options for investors, including pet insurance stocks. Trupanion Inc is a Seattle-based company that specializes in pet insurance. Their stock’s worth double what it was before the pandemic.
Turn Knowledge Into Income Today
These mentions are the best pet stocks for investors to purchase. You can use what you read today as a guide to get started in investing. No matter which company you select from this list, you’ll likely be happy with the results.
There are other ways you can give your finances a boost. We feature the top advice for businesses, investors, and more. Explore our blog longer for more helpful tips.