Managing Liquidity has seldom been being as vital as it has during the Covid-19 era. The financial impact of Covid-19
has left many firms on the brink of liquidation. This paper explores the effect cash holdings has had on Profitability of the firm
and how it compares with commercial paper between the pre-Covid-19 era and the Covid-19 era. This paper employs and
compares the ordinary least square regression between these eras. I find that firms are less liquid during the Covid-19 period
compared to the pre-covid period.