I too am confused as to why toilet paper. Does the virus give you chronic diarrhoea?
We were at Costco today and I normally pick up loo rolls from there but they were sold out. The back wall, which is usually totally stacked high, was empty. It's madness. They were limiting customers to two packs of paper towels. Lidl, next door to Costco, had none. I didn't buy any as I refuse to panic buy.
I was in Asda the day before and there was no bleach and very little hand wash, medicines and toilet paper. It's crazy.
As Lord Tyron said, the panic buyers will have lots of it, won't be buying more and the stocks will go back up.
To the O.P. if you are buying stuff on the fear it will go short then, yes, you're a panic buyer.