At the onset of the COVID-19 pandemic, the near-apocalyptic concerns about economic viability had several investors rushing for the exits, initially taking down U-Haul (UHAL) for good reason. Faced with a once-in-a-century pandemic, the negative implications of the global health crisis presented an ugly picture for the rental truck and self-storage provider.
However, UHAL stock – along with several other publicly traded assets – quickly shot higher from the spring 2020 doldrums. Primarily, the ultra-low interest rate environment (a consequence of the Federal Reserve’s aggressive actions to combat recessionary threats) inspired those flush with cash to buy up hard assets, particularly real estate. In turn, downwind beneficiaries like U-Haul reaped the rewards.
