Wall Street likes this company's loyal and higher-end consumer base.
Concern over a potential economic recession is rattling markets again. One stock that can weather the storm is Fox Factory. Fox Factory is known for making a wide range of products used in everything from bikes to off-road vehicles to trucks. The stock is up just 3% year to date and has taken a beating over the past six months, losing 20%.
" One of its business areas — bicycles — offers a case study of this stickiness. Bicycle makers and sellers have struggled following the Covid-induced boom. Consumers who bought bikes as a way to safely exercise during the pandemic may not have yet needed a new bike — or have given up the hobby altogether as their gyms or workout studios reopened. Either scenario can make the sales seen at the height of the pandemic hard to sustain.
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