Cashing In On the Clean-Up
After being swamped with snow just a few weeks ago, the Northeast is gearing up for another wild ride. The storm, dubbed the “Snowicane,” is expected to cause powerful winds, immobilizing snow, whiteouts, horizontal rain and flooding. Not only does this kind of extreme weather cause hazardous driving conditions, it also cost millions of dollars in snow removal costs and other damages.
In New York, for example, it costs the city an estimated $1 million per inch to plow the snow. And Planalytics, a Pennsylvania based firm that specializes in business-related weather forecasting, estimates the wintry messes in February topped $100 million a day during the worst weather when you add up overtime expenses, reduced productivity and lost sales.
But while some companies are flaking out when it snows, five stocks in particular are poised to cash in big-time because of this winter’s extreme weather.
- Poll of the Day