Clorox disinfecting wipes are so popular that they won't be fully stocked until next year, according to Reuters. Clorox CEO Benno Dorer told Reuters the company is struggling to keep up with demand for the product amid the pandemic, and said Clorox has seen a six-fold increase in demand for many of its disinfectant products.
“Disinfecting wipes, which are the hottest commodity in the business right now, will probably take longer because it’s a very complex supply chain to make them," said Dorer.
On the flip side, Dorer said supply of some products, including liquid bleach, will improve "dramatically" over the next four to six months.
Clorox shares were rising 1.4% to $235.22 in afternoon trading Tuesday.
"...the guidance from Clorox does show, more than anything, that nobody knows. It may just boil down to this: If you think that the vaccine isn't a panacea and chimerical, Clorox goes much higher. If you think we have this under control, as the president certainly indicates, it's now a sell. I'm going with my gut, which says this one just got de-risked and it's a buy."
Clorox, Amazon and Colgate-Palmolive are holdings in Jim Cramer's Action Alerts PLUS member club.
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