The stock market had a great run in the 2010s, but 2020 has already reminded us that crashes do happen — and that they’re pretty unpleasant. A sudden 30% drop in the value of your long-term savings can reverse years of contributions and investment growth, putting your retirement timeline on hold indefinitely as you wait for a recovery.

It’s no wonder 49% of Americans believe a stock market crash is the biggest threat to their retirement income, according to a 2020 retirement study by Allianz Life.

You can’t prevent a future crash from happening, but you can take steps to protect your retirement plan in spite of a crash.

• How to Prevent a Stock Market Crash from Ruining Your Retirement
• Do I lose my Money if the Stock Market Crashes?
• Where Should I put my Money if the Stock Market Crashes?
• What happens if Stock Price goes to Zero?
• Where is the Safest Place to put your Money?
• What is the Best Stock to buy right now?

How to Prevent a Stock Market Crash from Ruining Your Retirement

Here are four strategies that will help you do just that.

1. Plan the next five years

A stock market crash hits you the hardest when you need to liquidate your investments at lower-than-normal share prices. That’s why experts recommend you don’t invest funds you’ll need within the next five years.

Read Also: 8 Thing you Need to Know About Stock Market Correction

Follow that guideline and, barring any emergencies, you can afford to wait at least five years for a recovery — without having to sell your positions at a loss. 

If your targeted retirement date is more than five years away and you don’t plan on tapping those funds for anything else, you are in a good position to ride out a crash. You’re in a trickier spot, though, if you do intend to retire before 2026. In that case, it’s useful to think through a crash scenario now, while you can evaluate your options with a clear head.

Those two primary options are, delay your retirement or stick to your guns and retire on schedule. Delaying retirement indefinitely probably isn’t what you want. But retiring after a crash will having you liquidating more shares at lower per-share prices to fund those early retirement distributions. That’s not ideal, because it reduces your earnings power in the future.

There is a middle ground, though. Consider whether you’re willing to delay retirement for a fixed amount of time and, if so, for how long. Even a 6- or 12-month delay would help you financially. You could keep making retirement contributions and also build up your cash savings at the same time.

The extra contributions after a crash position you nicely to benefit from a recovery. And your cash savings can be your first source of income in retirement, so you don’t have to liquidate as much from your portfolio.

2. Invest in high-quality assets

High quality assets are investments that are poised to deliver slow and steady growth over long periods of time. These are usually large companies with experienced management teams, serviceable debt levels, predictable cash flows, and a history of operating efficiency.

Often, they’re also companies that have paid dividends for years and years. These positions aren’t going to make you rich overnight, but they are going to be more resilient in turbulent market conditions.

Mutual funds and index funds can give you quick access to a full portfolio of these large, established companies. Look for funds that track an index like the S&P 500, comprised of the 500 largest publicly-traded companies in the U.S. Funds that build their portfolios with premium dividend payers are a good option, too. 

SPDY S&P Dividend ETF (NYSEMKT:SDY) tracks the S&P High Yield Dividend Aristocrats Index, for example, and Vanguard Dividend Appreciation ETF (NYSEMKT:VIG) tracks the NASDAQ U.S. Dividend Achievers Select Index.

3. Clean up your finances

You can also hedge against a future market crash by tidying up your finances. Pay down high-rate debt and cut out unnecessary expenses. You’ll lower your cost of living, which reduces your income needs now and in retirement. That’s always a good idea, as it takes some pressure off your retirement savings in terms of how much you’ll need to withdraw each year.

4. Commit to keep investing

It may be counter-intuitive, but continuing to invest after a crash will benefit you in the long run. A crash creates a temporary reduction in share prices — like a sale with an uncertain end date. When your favorite brand of coffee or tea goes on sale at the market, you take advantage of that lower price.

Do the same with your investments with money you don’t need to use right away. Your investing dollar will buy more, which means you’ll increase your share counts at a faster rate. The more shares you own, the more opportunity you have to earn going forward.

Do I lose my Money if the Stock Market Crashes?

On any given day, the stock market can fluctuate up and down without warning. While the goal of every investment is to make money, new investors may worry about losing money if their stocks go down. Does it mean investors owe money to their brokers? Should new investors consider selling their investments?

Before you start investing, it’s important to understand what happens to your money if your stock goes down. Here’s what you need to know about your stocks, bonds, mutual funds and more in bull and bear markets.

What Happens When Stocks Go Down?

Stock prices can drop for many different reasons. When companies announce layoffs, poor financial performance during a quarter, or face a major scandal, stock prices can quickly descend.

When stock prices decrease, the total value of an investment drops accordingly. 

Say that you bought one share in ABC Company at $10. The price decreased to $8 over the course of a week, meaning that the value of your stock decreased by 20%. The converse is also true: If the stock price increased to $12 per share, the value would also increase by 16.67%. The more stock you own, the more your value would increase or decrease as the price changes.

If you hold the investment when the price goes up, you have unrealized gains on an investment that has yet to be sold (also colloquially known as “paper profit”). If the stock market is down and the investment price drops below your purchase price, you have a “paper loss”. After you sold the investment off, you’d either reap the earnings from the gains or get less than you invested back from the loss.

Two of the most common conditions that can affect the value of your investments are known as a bull market and a bear market.

What Is a Bull Market?

A bull market occurs when a financial market is expected to rise. This increase can be driven by a number of conditions, including increased sales, rising consumer confidence, or optimism towards a productive economy.

When a market increases by 20% after a sustained price drop, a market is considered to be on a “bull run”. During this time, investors often enjoy increased earnings and tend to hold stocks until they reach a target price.

What Is a Bear Market?

The opposite of a bull market is a bear market, where market prices experience a long drop in prices.

Unlike a “bull run,” analysts can declare a bear market when the level drops by 20% or more. Bear runs can be caused by negative market indicators, such as contracting economic conditions, job losses and investor sell-offs. 

If My Stocks Go Down, Do I Owe Money?

One of the most common concerns new investors have is related to the value of their investments. It’s not unusual to wonder: “If my stocks go down, do I owe money?”

If your stocks, bonds, mutual funds, electronically-traded funds, or other securities lose value, you won’t normally owe money to your brokerage. You may not, however, receive all of your money back if and when you sell. It depends if you are buying stocks with cash, or on a margin loan.

Selling Stocks at a Loss 

If you decide to sell your investments at a price below what you paid, you will experience a realized loss. Smart investors will sometimes take a strategic loss if they are afraid that the stock price will drop even further. This is where the phrase “cut your losses” comes from.

Other investors may decide to hold on to their investments in the hopes that they will increase. The idea that industries will naturally increase and decrease in value is the idea behind Dow’s Theory.

Selling Stocks on a Margin 

There are more complex strategies in which you may buy stocks on margin (loan) to increase your purchasing power. In this case, if the value of stocks in your account goes below the maintenance margin, your broker will require you to sell some of the stock – or add more cash to cover the shortage. This is a more risky strategy and is not recommended for beginning investors.

Will My Stock Prices Go Back Up?

So what happens when your stocks go down? Is it time to re-evaluate your sales strategy, or should you hold on to the stock and wait for a bull market?

There is no one universal answer to this question. Every situation is unique and investments can gain or lose value at any time. When determining when it’s time to buy or sell, use available tools and research to make your decisions.

Track Investment Value Online 

First, it’s important to track the value of your investments online. While your investing platform will provide some tools, you can also download apps that will help you track prices and changes in real-time. The PageOnce and Bloomberg apps are among the best personal finance apps to help you track investments.  

Stay Up to Date with Financial Information

Next, be sure to read the financial news, prospectus, and research available on your investment. By understanding the eight key facts of investing – including a company’s business model, competitive advantage, and profit margin – you can make educated decisions about your investment plan.

Anytime markets drop in value, it’s natural to wonder about what happens when your stocks go down. Through understanding gains and losses, Dow’s Theory, and a company’s trajectory, you can make the best decisions possible to protect and increase the value of your stock portfolio.

Where Should I put my Money if the Stock Market Crashes?

When unemployment reaches high levels and foreclosures are commonplace, it’s natural to worry about the economy and your investments. If most of your money is in the stock market and it crashes, you might not have time to wait for a possible recovery.

Several options exist besides the stock market. If you think a crash is likely to occur, you might want to look into some of them.

TIPS

You can buy Treasury Inflation-Protected Securities from the U.S. Treasury or from a bank or broker to provide you with some protection against inflation. Your principal would increase with inflation and decrease with deflation. This is measured by the Consumer Price Index.

You can buy a TIPS that matures in five, 10 or 30 years. Interest is paid twice a year and is applied to your principal. At the time of maturity, you receive whichever is greater between your adjusted and your original principal.

Precious Metals

Invest in precious metals — gold, silver, platinum and palladium — if you are concerned about the dollar losing value. People historically have held precious metals as a way to diversify their portfolios.

A popular saying used in many advertisements is that the price of metals fluctuates but never drops to zero — a come-on, yes, but one that contains some truth. You can invest in precious metals by buying stock that holds shares in mining companies, by buying exchange-traded funds that hold bullion or by buying coins — both antique and newly minted ones.

Foreign Currency

If you are concerned about the dollar being weak, you might want to invest in foreign currency. If you choose the wrong currency, however, you could lose money if it drops below the dollar. You have the option of investing in many different foreign currencies to hedge your bets.

Investing in foreign currency is risky, so you need to gauge your risk tolerance. It’s best to work with a financial intermediary, said Carl Resnick, a Rydex SGI portfolio strategist, in Bankrate.com.

Savings Accounts

Put your money in savings accounts and certificates of deposit if you are worried about a crash. They are the safest vehicles for your money. The Federal Deposit Insurance Corp. and the National Credit Union Administration insure your money in savings accounts, checking accounts, certificates of deposit and money market deposit accounts up to $250,000 per depositor, per bank.

What happens if Stock Price goes to Zero?

Stocks that fall to a selling price of zero dollars are probably disasters for investors and companies alike. These securities will immediately – or quickly – be delisted by their stock exchange and can quickly become worthless to investors. The reasons for this precipitous “fall from grace” can be many.

The result, unfortunately, is most often the same – worthless stocks. Common reasons include operating problems, product availability, delivery or quality issues and, of course, mismanagement.

When a stock’s value falls to zero, many of the major exchanges will delist the particular security in question.

Stock Exchange Listings

All stock exchanges have rules for stock registration and listing. Stocks that fall below minimum selling selling prices – for example there’s a $4 minimum on the New York Stock Exchange – will be delisted. Investors can no longer buy or sell securities through normal channels when the stock disappears from its exchange listing.

Securities with a zero value will always be delisted from major stock exchanges. The New York Stock Exchange, the Nasdaq Exchange and other global exchanges have listing standards that, if not met, result in delisting the stock. Zero value is always a common cause of delisting.

Investigate Causes

Owning a stock whose price drops to zero is devastating to investors and the issuing company. If you’re an investor in a public company whose stock price crashes to zero dollars, either make wall space for displaying worthless stock certificates or investigate the company further.

There could be a unique, freakish event that caused the price decrease. More likely there are intrinsic operating or financial difficulties that leave little room for recovery.

Defining the Pink Sheets

When stocks reach zero – or even close to it – they become over-the-counter securities, appearing on so-called pink sheets. The OTC market tends to be extremely volatile and a haven for speculators hoping to make fast profits. While it seldom happens, OTC stocks can be popular, even after losing their stock exchange listing privileges.

The company could still be experiencing growth, and could be relisted on a major exchange in the future. Be aware, however, of the reasons for a stock’s listing on pink sheets versus trading availability on a formal stock exchange.

Bankruptcy Reorganization

Even a company that files a Chapter 11 bankruptcy, hoping to reorganize its finances, instead of a Chapter 7 liquidation bankruptcy, typically must cancel and eliminate its original stock, making these shares worthless. Should the company successfully reorganize and become financially sound, it will usually issue new stock, leaving former shareholders with worthless stock certificates.

A recent example of this involves Appvion, whose Employee Stock Ownership Plan may be worthless after the company filled Chapter 11. If former shareholders believe the company will now succeed, they must buy some of the new post-bankruptcy stock should they want to continue their investment.

Zero Stock Bids

When your stock initially is delisted and falls to zero, sometimes you can still get bids through the over-the-counter market. There are times that speculators, because of rumors or belief that a company will recover and have value, will make a bid to purchase your stock.

If you don’t share the belief that the company will make a comeback, consider taking the offer, however low it may be. Remember, the next step for most zero stocks is worthlessness.

Where is the Safest Place to put your Money?

Mistrust toward banks and other financial institutions prompts more fearful individuals to seek alternative venues to park their capital. Others may be avoiding the banks on principle, given their participation in the reckless lending that led up to the housing bubble bursting and triggered the Great Recession.

Of course, since the coronavirus outbreak, banks look safer than the wildly volatile stock market. But all the same, it’s worth looking at these seven alternatives. One in particular is considered the safest place to keep cash.

1. Federal Bonds

The U.S. Treasury and Federal Reserve would be more than happy to take your funds and issue you securities in return, and a very safe one at that. A U.S. government bond still qualifies in most textbooks as a risk-free security.

Unfortunately, many individuals and institutions already know that and have entered the bond market ahead of you, which has bid bond rates to very low levels in this time of crisis.

On April 9, 2020, the yield from a 10-Year Treasury Note was 0.73%, an all-time low. If the low rates don’t deter you, government bonds are one of the safest places to keep cash.

2. Real Estate

In disquieting times for the banks and the stock market, the allure of real estate investment can be strong. Become a landlord. Put down some of your principal on a property, fix it up a bit, rent it out, and have your tenants pay off the mortgage. Or, if you’re interested in a shorter-term opportunity and have more experience, maybe try flipping houses.

Done right, real estate can have a huge financial upside. Yet it can also be a risky and sometimes fickle investment. True, residential and diversified real estate investments have averaged about a 10% return in the past 20 years, which is slightly better than the S&P 500 in that period. But real estate can also be an unreliable investment, especially in the short term.

An extreme example is the the housing bubble that burst and led to the Great Recession. The global economic downturn that began in 2007 resulted in millions of people losing their jobs and homes, resulting in a housing market crash.

It’s unclear how the coronavirus situation will affect real estate, but it’s not likely to be positive. the huge hit to the economy and employment will likely limit buyer’s ability to come up with cash and desire to part with it. On the other hand, sellers who really need to sell may be willing to settle for lower prices.

3. Precious Metals

One doomsday scenario in which financial markets cease to function holds that gold, silver, and other metals such as platinum or copper will continue to retain their value, if not appreciate.

The likelihood of having to return to a barter system with physical goods is minimal, but it may make sense to hold a certain percentage of your assets in this form. 

For one, precious metals have historically provided a low or negative correlation to other asset classes like stocks and bonds—which is to say, when those investments go south, metals are unlikely to follow, at least very far, and may even increase in value.

4. Luxury Assets

This category of tangible assets encompasses fine art, cars, watches, diamonds, and other jewels, and just about anything that qualifies as a collectible. In their favor, they’re objects that can be touched and seen, compared to a bank account statement that could take time to collect on if the financial institution that housed it ceases to exist.

That said, luxe investments are hardly a sure bet. While data on their historical returns are elusive, they are generally thought to have lagged stock market returns, while having periods of rapid appreciation due to either strong financial market performance or periods of popularity, which increases underlying demand and resulting prices.

5. Cash, Hidden Away

Although stuffing money under your mattress has become a cliché, it unquestionably keeps your funds close at hand, if not necessarily secure. You could, of course, also hide your assets in a safe deposit box or safe.

Again, this method probably qualifies only for a doomsday scenario, or for times of a short-term liquidity crunch. Even then, keep only a small stash, not least because inflation steadily erodes the value of currency over time. In a deflation, the opposite is true, of course.

6. In a Business, Perhaps a Farm?

Buying a business can ensure a return on your investment, provided of course that the enterprise generates a profit. In very bad times, of course, businesses suffer as well. A farm can be a particularly tangible business, if not a reliably profitable one.

You don’t necessarily need to get our hands dirty, either; with a so-called investment farm, you hire staff to handle the actual agricultural operations. Owning farmland is a good fit with a survivalist mindset, too, since the land can produce food on the off-chance of a global calamity or meltdown of the global financial system.

7. Cryptocurrency

Cryptocurrencies are another alternative investment option. There are a number of choices; Bitcoin is just the best known. So-called “cryptos” offer individual investors a unique opportunity to get into what is still very much an emerging technology.

Of course, this is also a high-risk, high-reward opportunity. For example, after soaring to stratospheric highs, bitcoin lost about three-quarters of its value in 2018.

You shouldn’t invest much, or any, funds in cryptocurrency that you’ll rely on for your future. Yet most analysts believe these alternative currencies are here to stay and brave investors may want to pitch a stake on the off-chance of hitting it big with one of them.

Although the subprime mortgage meltdown is more than a decade old, the financial industry is still looked upon with some suspicion these days, at least by some skeptics.

And the stock market may be no less of a concern for such people, particularly in the wake of the coronavirus outbreak and the unprecedented ongoing volatility the markets are experiencing.

For the especially wary, the above alternatives to a traditional bank or stocks may make sense for at least a percentage of net worth. But given their risk, none should be too big a component of your investments.

What is the Best Stock to buy right now?

Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist? Alibaba (BABA), Veeva Systems (VEEV), Cloudflare (NET), Pool (POOL) and Freshpet (FRPT) are worth considering as the market gets back into gear.

Alibaba Stock

Chinese e-commerce giant Alibaba has broken out of a flat base entry, MarketSmith analysis shows. The Leaderboard stock has an ideal buy point 299.10. Alibaba also offered a number of early entries before that.

The relative strength line is giving bulls reasons for confidence, as it is trending near new highs. The RS line, the blue line in the charts provided, measures a stock’s performance compared to the broader S&P 500 index.

Alibaba stock has a stellar IBD Composite Rating of 99, reflecting its strong earnings and share price performance. The Stock Checkup Tool shows earnings are a key strength. In fact its excellent performance has landed it on the IBD Long-Term Leader list.

Average earnings growth over the past three quarters comes in at 21%. In addition, average EPS growth over the past three years comes in at 25%, which is in-line with CAN SLIM requirements.

In many ways Alibaba is the Amazon (AMZN) of China. Best known for e-commerce, it also has its own cloud-computing business, an analogue for Amazon Web Services. In addition, it has also branched out into areas such as digital media and food delivery.

The company reported a 15% rise in quarterly profit in August. It also saw sales increase 30% to $21.76 billion.

Alibaba breaks down its revenue into four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment and Innovation Initiatives. Core commerce revenue jumped 34% to $18.9 billion. Cloud computing revenue increased 59% to $1.75 billion, accounting for the lion’s share of total revenue.

Mobile monthly active users totaled 874 million, up 15.8% from the year-ago quarter and 3.3% sequentially.

The China consumer seems to be thriving in the age of Covid-19. In June, Alibaba reported record sales at the 618 shopping festival in China. Sales across the e-commerce giant’s shopping platform totaled $98.52 billion.

Veeva Systems Stock

Veeva Systems has formed a flat base, and is closing in on a buy point of 298.86. This will be its first base since breaking out in April. Veeva’s good performance has landed it a spot on the IBD Leaderboard.

Veeva already has offered some early entries, including a bounce off its 10-week line and then topping a pseudo-handle last week. Prior to its current base, Veeva stock soaring nearly 80% from its prior buy point..

The RS line has been making steady progress in 2020 and is back to record highs. In addition, it has just hit a fresh all-time. The RS line hitting new highs before the the stock does is a bullish indicator. There’s a good reason why Veeva on the Long-Term Leaders watchlist.

Veeva Systems stock has a near-perfect Composite Rating of 98. Earnings are even more impressive than its stock market performance. The Stock Checkup Tool shows its long-term performance is most impressive. EPS growth over the past three years comes in at 46%, which is almost double CAN SLIM requirements.

A key reason for the good performance of Veeva Systems stock is its being backed by big money. MarketSmith shows steady growth of mutual funds owning Veeva — from 1,373 funds at the end of Q3 2019 to 1,501 in Q2 of this year. This is an important consideration, as the I in CAN SLIM stands for Institutional Sponsorship.

Veeva Systems develops cloud-based customer relationship management software for the life sciences industry. The company has more than 525 customers, ranging from the world’s largest pharmaceutical companies to emerging biotechs.

Cloudflare Stock

IPO stock Cloudflare has just passed a 45.38 buy point after breaking out of a cup base. The cloud computing stock already cleared a 40.94 early entry in late September.

Its relative strength line has been extremely bullish of late, and it has just hit a new high amidst an almost vertical move. The stock has made a solid recovery since a brief retreat in early September.

Cloudflare has a strong Composite Rating of 94. At the moment this is mainly due to its outstanding stock market performance, with the stock up 172% so far in 2020.

Cloudflare is so far missing one of the key elements of leading stocks: earnings. The Stock Checkup Tool shows it has yet to turn a profit,. Analysts expect losses to continue through at least this year and 2021. But estimates for both years have recently been revised higher.

As often happens with IPO stocks that go on to become market leaders, Cloudflare is generating strong revenue growth. Sales increases have ranged from 44% to 51% over the last seven quarters.

Cloudflare stock has seen three quarters of rising fund ownership, and Fidelity Contrafund (FCNTX) owns shares. Plus, 80 funds with an A+ rating from IBD have a stake in Cloudflare.

The enterprise software maker competes with the likes of Amazon (AMZN) CloudFront, Microsoft (MSFT) Azure and Google Cloud.

Cloudflare has developed a global cloud platform to deliver a wide range of network services. The San Francisco-based company counts approximately 16% of the Fortune 1,000 as customers, providing cybersecurity, streamlined content delivery, optimization of mobile apps, analytics and more.

Pool Stock

Pool stock has rebounded sharply and cleared a 338.98 cup-with-handle buy point and at a record high.

The relative strength line has just hit an all-time high. Its good performance compared to the broader market is underlined by the fact Pool stock is up 64% so far this year.

Pool stock is now a Long-Term Leader, moving up from the watchlist. An IBD Long-Term Leader is a stock with stable earnings, stable price performance, and high-quality institutional sponsorship that will outperform the market. They also boast quality institutional ownership.

Pool stock has a perfect 99 Composite Rating and ranks No. 1 in the Retail-Leisure Products group. Earnings are a key strength. Pool topped earnings estimates the last two quarters. For the last reported quarter, EPS rose 25% to $3.87, well above the Zacks consensus estimate of $3.09. EPS is seen swelling 26% in 2020, and growing by 12% in 2021.

The firm is split into two main divisions. The first is North America Pool, which brings in 85% of its revenues. It sells a variety of products — such as swimming pool construction materials, pumps and fittings — and handles pool maintenance.

Meanwhile, its irrigation and landscape products business brings a further 9%. The rest of its revenue comes from its sale centers in Europe and Australia.

KeyBanc Capital Markets analyst Kenneth Zener told IBD earlier this year that Pool has a number of attractive attributes for investors.

“Pool Corp. is a unique company in that it gets very high returns on capital in a very steady business model. That affords a high degree of consistency,” he said. “That consistency is very expensive — it is a high-multiple company, which keeps a lot of people away.

But the quality of the business warrants that valuation, in our opinion, based on the consistent earnings and high returns on equity.”

Pool is benefiting, like the broader housing sector, from coronavirus shifts in spending habits. Americans are spending more on their homes. Home sales also are at 14-year highs. With remote work still trending, more people are moving from small, high-priced cities to cheaper suburbs or exurbs where having a swimming pool is more realistic.

That’s due to the fact that a large proportion of its sales are nondiscretionary. In fact, 58% of North America Pool’s sales fall under this bracket. Overall, the company’s nondiscretionary sales come in at around 50% of all revenue.

Freshpet Stock

Freshpet is in buy zone after breaking past its 116.70 entry from a flat base. The pet-food disruptor’s RS line has been making very good progress throughout 2020, and is now at a new high. The stock is up a mighty 106% so far this year.

However, a long history of losses have impacted the Composite Rating, which now sits at a good 86 out of 99. But Freshpet turned a tiny profit in the latest quarter, with analysts predicting earnings per share of 24 cents for the full year. Freshpet earnings are expected to jump 142% in 2021.

Read Also: How do Investors Make Money in a Falling Market?

Meanwhile, sales growth has accelerated slightly in the past two quarters, from 27% to 28% and 33%.

Freshpet boasts cat and dog food made of real, fresh meat combined with vitamin-rich vegetables, leafy greens and fruits rich in antioxidants. It says it does not use preservatives, additives or artificial ingredients.

The company says it sources 100% of the electricity used in its kitchens through wind power. It says it is a landfill-free facility and plants trees to offset its carbon emissions.

Freshpet says it strives to improve its energy-use profile by continuously increasing the efficiency of its Freshpet Fridges. It has donated more than 5 million fresh meals to pets via shelters, charitable organizations and humane societies.

All of these are values the company thinks relate to the new generation of pet owners, people who believe their pets “deserve to eat the kind of fresh, healthy food that we do,” according to the company’s 2019 10-K filing.