Are These The Best Leisure Stocks To Buy This Month?
For investors wondering what stocks to invest in now, leisure stocks appear to be gaining in popularity in the stock market today. Like it or not, the leisure industry remains a crucial one in the world today. Across the board, investors and consumers alike seem to be turning towards leisure companies now.
On one hand, most virtual means of entertainment today are convenient and highly accessible to consumers. This was especially the case throughout the pandemic as countless consumers were homebound. As a result, some of the top leisure stocks today are streaming companies such as Fubo (NYSE: FUBO) and Roku (NASDAQ: ROKU). On the other hand, conventional in-person entertainment companies seem to be kicking into high gear as well. Namely, travel stocks would be in the spotlight now as investors look for the top reopening plays. Understandably, this group of stocks would stand to benefit from loosening travel restrictions. From airline stocks like Southwest Airlines (NYSE: LUV) to cruise line stocks such as Norwegian Cruise Line (NYSE: NCLH), investors are spoilt for choices.
By and large, the tailwinds for the leisure industry could persist for the foreseeable future. Just last month, the U.S. Centers for Disease Control and Prevention (CDC) revealed that more than half of Americans have received at least one vaccine dose. If anything, with leisure stocks on the rebound, investors could be tuning their radars towards the industry now. Should you be eager to do so yourself, here are five worth knowing in the stock market now.
Top Leisure Stocks To Watch Right Now
- Carnival Corporation (NYSE: CCL)
- Canopy Growth Corporation (NASDAQ: CGC)
- DraftKings Inc. (NASDAQ: DKNG)
- Penn National Gaming Inc. (NASDAQ: PENN)
- Royal Caribbean Cruises Limited (NYSE: RCL)
Carnival is a leisure stock that has been gaining a lot of momentum in the last few months. One of the more successful reopening plays in the stock market, the company is also one of the largest leisure travel companies in the world.
Its portfolio of global cruise line brands includes Costa Cruises, Princess Cruise, and AIDA Cruises. In total, it has a fleet of 87 ships visiting over 700 ports around the world. CCL is up by over 50% year-to-date.
Today, the company announced that its Costa Cruises will continue its gradual restart for 2021-2022. The main changes include its three newest ships featured in exciting itinerary updates. Costa Toscana is a new ‘green’ ship currently under construction that will be powered by liquefied natural gas and will debut at the end of the year. Given the excitement surrounding Carnival and its reopening plays, will you consider adding CCL stock to your watchlist?
Canopy Growth Corporation
Canopy is a leisure stock that produces cannabis and cannabinoid-based consumer products. Given how the acceptance of marijuana for both recreational and medical use has increased over the years, Canopy is well-positioned for growth given the diversified portfolio of products it possesses. CGC stock currently trades at $25.27 as of Thursday’s closing bell and has been up by 9% since the start of the month.
On Tuesday, the company reported a strong fourth-quarter and fiscal year 2021 financial results. In it, it achieved 37% revenue growth in FY 2021 with strong double-digit growth across both cannabis and other consumer product businesses. The company also improved its supply chain execution and quality enhancements, which led to huge commercial success for the company.
Canopy also continues to maintain the number 1 market share of the total flower category in Canada. It also recently announced a slew of acquisitions to solidify its leadership position in the Canadian recreational market. With that in mind, will you consider CGC stock as a top leisure stock to watch?
DraftKings is a digital sports entertainment and gaming company that allows its users to utilize its leisure services. Its products range across daily fantasy, regulated gaming, and digital media.
The company is one of the only U.S.-based vertically integrated sports betting operators. In essence, the company is a multi-channel provider of sports betting and gaming technologies. DKNG stock closed Thursday’s trading session at $49.71 per share.
In May, the company reported its first-quarter financials. Firstly, DraftKings posted revenue of $312 million for the quarter, a 253% increase year-over-year. Secondly, it increased its 2021 revenue guidance to a range of $1.05 billion to $1.15 billion, which equates to year-over-year growth of 63% to 79%. As DraftKings is off to an outstanding start in 2021, will you consider watching DKNG stock?
[Read More] 5 Growth Stocks To Watch This Week
Penn National Gaming Inc.
Following that, we have Penn National Gaming Inc (PENN). To begin with, the company is an operator of casinos and racetracks. As it stands, the company owns and runs 41 gaming and racing facilities across 19 U.S. states. This alone would make it a probable player in the reopening trade now.
However, the company has and continues to bolster its online sports betting portfolio as well. Through its Barstool Sportsbook app, PENN serves over 20 million casino customers. Because of this, some would argue that the company could emerge stronger than ever in a post-pandemic market. PENN stock is currently up by over 130% in the past year.
If anything, the company does not seem to be slowing down anytime soon. Just last week, PENN received full approval from the Maryland officials to acquire the operations of Hollywood Casino Perryville. Through the $31.1 million transactions PENN is gaining access to the newly legalized Maryland sports betting scene. Subsequently, CEO Jay Snowden also revealed plans to expand the company’s mobile sports betting app in the region. Given all of this, will you be keeping an eye on PENN stock now?
Royal Caribbean Cruises Limited
Another top leisure company to know now would be Royal Caribbean Cruises Limited (RCL). In brief, RCL is among the largest cruise line operators across the globe. Specifically, the company’s three key brands are Royal Caribbean International, Celebrity Cruises, and Silversea. For a sense of scale, RCL boasts a massive fleet of 59 ships across its portfolio. As with most reopening plays now, RCL stock has been on the uptrend this year with year-to-date gains of over 30%.
On the operational front, things appear to be looking up for RCL as well. Last week, news broke of RCL receiving the green light from the CDC to run test cruises this month. Ideally, this would eventually lead towards RCL resuming full sailings soon. Essentially, the company will be running simulated cruises with volunteer passengers starting June 20.
This would mark the first cruise to sail from a U.S. port since March 2020. Not to mention, RCL also announced new summer voyages in Alaska and Iceland, starting in July 2021. By and large, the company seems to be firing on all cylinders now. Would this make RCL stock a buy for you?