Why Waste Management Stock Surged 16.3% in March
Shares in trash collection landfill owner Waste Management (NYSE: WM) increased a whopping 16.3% in March, according to data provided by S&P Global Market Intelligence. The move was not accompanied by any significant news and probably comes down to a sentiment shift in the marketplace.
As you might imagine, Waste Management's end markets are about as secure as you can get. After all, trash collection is a basic necessity, and the company's ownership of landfills -- highly regulated assets -- means it has an economic moat. That said, waste disposal volumes did decline as a result of the pandemic, and the company temporarily suspended "price increases and certain fees for customers impacted by the COVID-19 pandemic" in 2020, according to management.
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Source Fool.com
