Friday morning is Groundhog Day, and people across the U.S. will be watching closely to see if Punxsutawney Phil, the world’s celebrity groundhog, sees a spring thaw around the corner, or if winter will bear down on us for longer.
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As the legend goes, if Phil sees his shadow and he returns to his burrow then the U.S. will endure six more weeks of winter, but if Phil doesn’t see his shadow and he leaves his burrow, soon spring will come.
Chances are, Phil will see his shadow. According to Data for the National Oceanic and Atmospheric Administration, between 1887 and 2017, Phil saw his shadow 103 times and didn’t 18 times.
So, stacking the odds for a longer winter, here are some stocks that could benefit from another six weeks of winter.
Companies involved in the energy sector can benefit from cooler temperatures ad this causes more people to turn up the heat in their homes, and more heating means more energy use and that is good for energy companies and utilities.
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When the temperatures drop people are less likely to go out for dinner and are more likely to stay in. This in turn can be a positive for restaurants that offer delivery as well as for food delivery companies.
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But, whether or not Phil sees his shadow, it’s hard to trust his prediction. According to Stormfax Almanac data, Phil’s forecast has only been correct about 39% of the time.
Phil will make his weather prediction at 7:25 a.m. ET.
