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3 Top Entertainment Stocks To Buy Or Sell In September? 2 Making Big Moves This Week

Are these skyrocketing growth stocks in the entertainment sector worth buying right now?

3 Top Entertainment Stocks To Watch In September 2020 

The growth we are seeing in entertainment stocks has been complicated this year. While some top entertainment stocks to watch have ground to a complete halt due to the economic shutdown, others are thriving from the stay-at-home theme. The stocks least affected by social distancing generally performing the best. With the stock market continuing to climb despite the economy still looking very wobbly, should investors be concerned? Maybe for a start, we could start looking at the best stocks to buy now by judging how well they can adapt to the pandemic. And if they have been leading the charge well, investors might want to ignore the noise and focus on these stocks right from the start. 

Consumers are sticking to the safety of their homes for the foreseeable future. Therefore, some of the top entertainment stocks to buy in the market are now having a moment. Simply put, the pandemic has created a seismic shift in the entertainment industry. From movie theaters to streaming platforms and from physical casinos to online betting, these are just a few examples that come to mind. Disney’s (DIS Stock Report) decision to send Mulan straight to its streaming platform, Disney+ is a perfect example of the ongoing transition of entertainment companies. 

We know some of the top entertainment stocks could catch a tailwind when the pandemic is over. But here’s the thing, even a successful launch of a vaccine this year wouldn’t guarantee a quick recovery. As a result, there’s a great chance of leisure that requires social distancing is unlikely to have a speedy recovery anytime soon. Personally, I would stick with the stay-at-home entertainment stocks. With the digital revolution underway, are these entertainment stocks on your watchlist this week?

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Top Entertainment Stocks To Buy [Or Sell] Now: DraftKings

First, up the list, shares of DraftKings (DKNG Stock Report) soared all-time highs on Monday. This comes after the company announced a deal with ESPN. The deal will feature DraftKings content on the network’s digital and TV platforms. Monday’s surge follows the strong movement from last week, as investors bid DKNG stock higher in celebration of the return of the NFL.

Apart from DraftKings, ESPN is also signing another co-exclusive agreement with Caesars Entertainment (CZR Stock Report). Both DKNG stock and CZR stock surged 17.27% and 10.54% respectively after reporting the news.

At a valuation of almost 47 times trailing sales, DraftKings needs to achieve strong growth to justify the premium. Many investors believe the company will benefit from the increasing legalization of sports betting and international expansion. But the ESPN deal certainly helps DraftKings in acquiring new users. Nevertheless, the share price has already gone up so much this year. One should consider if the upside has been priced in.

Top Entertainment Stocks To Buy [Or Sell] Now: Activision Blizzard 

Activision Blizzard (ATVI Stock Report) enjoyed a strong second financial quarter. Earlier this month, the gaming giant released Tony Hawk’s Pro Skater 1+2 and came in as the second best selling gaming title in the UK during the week of its release. The company released another smashing quarter early last month. While it had a rough year in 2019, the company managed to overturn its fate. It recorded a 270% year-over-year increase in revenue in the most recent quarter. That’s thanks to its Call Of Duty game title, including a mobile version released last October.

While Tony Hawk’s Pro Skater isn’t as important for Activision as Call of Duty or Candy Crush Saga, a strong performance is certainly welcome as it can help provide a boost to the company’s next earnings report.

Under the leadership of CEO Bobby Kotick, Activision Blizzard has a great track record of releasing games that have staying power. They not only keep existing fans engaged but also attract new players. With strong revenue numbers and a growing presence, Activision Blizzard is an entertainment stock that is expected to outperform the market this year.

[Read More] Are These The Best Biotech Stocks To Buy In September 2020?

Top Entertainment Stocks To Buy [Or Sell] Now: Roku

Shares of Roku (ROKU Stock Report) have been making big moves in recent weeks. Now that ROKU stock seems to be experiencing some pull-back with the broader tech sell-off, it has created some compelling buying opportunities.

The company’s business strength has been made clear during the coronavirus pandemic. While many digital advertising companies saw revenue growth decline or slow significantly, Roku’s revenue soared 46% year over year.

Roku is not only resilient during the pandemic, but it is showing itself as a respectable player in the game. Second-quarter revenue grew 42% year over year to $356 million. What’s interesting is that the stock is trading at a decent valuation given to the company’s strong growth prospects. At less than 10 times analysts’ forecast for next year’s revenue, is ROKU stock a steal?

By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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