Clorox (CLX) - Get Report shares on Monday bucked a falling broad market and jumped after Jim Cramer touted the maker of germ-killing household cleaners as one of a handful of stocks likely to see a bump over the coronavirus outbreak.
Clorox's stock price rose 2% to $161.51 a share after Cramer published a column on Real Money and appeared on CNBC, pointing to Clorox and other stocks that are likely to gain traction amidst mounting global anxiety about the spread of the virulent respiratory virus.
With no immediate cure in sight for the coronavirus, consumers are likely to stockpile Clorox wipes and other products, Cramer wrote.
"Here's a reliable company that sells the only product that kills everything," Cramer said.
Clorox has historically performed well during epidemics, with shares of the Oakland, Calif., maker of household cleaning products surging 10% during the H1N1 outbreak a few years ago, he noted.
Clorox shares are up 2.4% over the past 10 days in the wake of the outbreak of the coronavirus in the Chinese city of Wuhan, according to Bloomberg.
The surge of investor interest comes as Clorox struggles to boost sales in some of its other consumer categories, with weakness in sales of trash bags after a dustup over a price increase and a seasonable downturn in charcoal sales.
Shares of Clorox declined from a high of $166 a share over the summer to $146 by the end of November, with the company forced to scuttle a price increase for Glad trash bags.