We might be out of lockdown, but for many Americans, traveling anywhere is out of the question this summer thanks to the coronavirus and its impact on Americans everyday lives, but also economically.
So, are people turning to deck out their decks as the weather heats up?
Jesse Singh, CEO of Azek, joined TheStreet to talk about the things he and his company are seeing this year versus previous years and how he took the company public during the pandemic.
The company, in case you aren't familiar, makes low-maintenance sustainable outdoor building materials.
The stock, which trades under the ticker AZEK, jumped in its first day of trading, benefiting from the increased focus on home improvement that has resulted from the coronavirus pandemic.
In its initial public offering, the Chicago company sold 33.25 million shares at $23 each, raising $764.8 million. Azek is listed on the New York Stock Exchange with the ticker AZEK.
In Azek's Securities and Exchange Commission Form S-1/A, the company says homeowners "are continuing to invest in their outdoor spaces and are increasingly recognizing the significant advantages of long-lasting products, which are converting demand away from traditional materials, particularly wood. Our products transform those outdoor spaces by combining highly appealing aesthetics with significantly lower maintenance costs compared to traditional materials."
So, how does Azek plan to appeal to millennial investors? And are more people really shopping for outdoor building materials?
Watch the video above for more.
You can follow Katherine Ross on Twitter at @byKatherineRoss.
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