Are These The Best Leisure Stocks To Buy This Week?
While the broader stock market appears to be taking a breather from its recent highs, leisure stocks are gaining traction. If anything, most consumers and investors alike would be familiar with the industry’s wide array of offerings. On one hand, conventional methods of spending leisure time are back in operation albeit at limited capacities. Even so, fully vaccinated consumers appear more than willing to engage in such activities even now. For example, we could look at Reddit stock company AMC Entertainment (NYSE: AMC). Over the weekend, the company set a new labor day weekend admissions revenue record, raking in over $90 million.
On the other hand, with the recent rise in coronavirus fears, stay-at-home leisure stocks remain viable plays as well. This would be the case given the current growth among streaming and social media stocks. Not to mention, online dating app company Match Group (NASDAQ: MTCH) is making headlines now. Earlier today, news broke of MTCH stock becoming one of the latest to join the S&P 500 index. As a result, the company’s shares are now up by over 7% as of 10:40 a.m. ET. With all this activity among leisure stocks now, should you be keeping an eye on these top names in the stock market today?
Top Leisure Stocks To Buy [Or Sell] In September 2021
- DraftKings Inc. (NASDAQ: DKNG)
- Tilray Inc. (NASDAQ: TLRY)
- Zynga Inc. (NASDAQ: ZNGA)
- Penn National Gaming Inc. (NASDAQ: PENN)
- Roku Inc. (NASDAQ: ROKU)
DraftKings Inc.
First, on this list of leisure stocks, we have DraftKings, a daily fantasy sports contest and sports betting operator. It offers its users a wide number of products that range across regulated gaming, digital media, and daily fantasy. It is also one of the only vertically integrated sports betting operators in the U.S. Furthermore, the company is a multi-channel provider of sports betting and gaming technologies, powering sports, and gaming entertainment for operators in 17 countries. DKNG stock currently trades at $63.90 as of 2:17 p.m. ET.
On September 1, 2021, the company announced the launch of DraftKings Online Sportsbook in Wyoming. This would mark the 13th state in which its top-rated mobile sportsbook is available. This is in line with legalized sports betting enjoying widespread growth and the company has been at the center of the action.
Also, this would be the third launch of the year for DraftKings Online Sportsbook, following launches in Virginia and Michigan in January. As per state regulations, Wyoming joins Virginia as the second state this year to permit direct mobile licensing, allowing mobile operators to be licensed independent of any tethering to a land-based casino or other brick-and-mortar establishments. Given this exciting piece of news, will you consider buying DKNG stock?
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Tilray Inc.
Tilray is a pharmaceutical and cannabis company with a leading portfolio of high-quality products. It has operations all over the globe and strives to be a trusted partner for its patients and consumers by providing them with a cultivated experience and wellbeing through its innovative products. Amazingly, its unprecedented production platform supports over 20 brands in over 20 countries. TLRY stock currently trades at $13.26 as of 2:17 p.m. ET.
In late August, the company sent out a shareholder letter mapping out its $4 billion revenue plan. It expects strong trends towards cannabis legalization and broader consumer reach in its three key markets, Canada, International, and the U.S. Tilray also boast a combination of well-defined organic growth initiatives combined with acquisitions and partnerships that would afford it a unique opportunity to expand its business globally and grow into an industry leader with $4 billion in revenue by the end of its fiscal year 2024. With these impressive developments, would you consider owning TLRY stock?
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Zynga Inc.
Moving on, we have Zynga, a social game developer and a global leader in interactive entertainment with a mission to connect the world through its games. It has a global reach in more than 175 countries and regions and its diverse portfolio of popular game franchises that have been downloaded more than 4 billion times on mobile. ZNGA stock currently trades at $8.72 as of 2:17 p.m. ET.
On August 5, 2021, the company announced that its subsidiary Rollic has surpassed 1 billion downloads across its diverse portfolio of hyper-casual games. As one of the largest hyper-casual publishers in the world, Rollic has created a unique development process that leverages data insights and rigorous testing to repeatedly design and publish hit hyper-casual titles. It has also produced many chart-topping titles. For these reasons, will you consider adding ZNGA stock to your portfolio of leisure stocks?
Penn National Gaming
Next up, we will be taking a look at Penn National Gaming (PENN). In brief, it primarily operates as a casino and digital entertainment company. Prior to the pandemic, the company’s primary offerings consisted of casinos and racetracks strategically located across the U.S. Today, the company has and continues to make the most of its robust entertainment portfolio by bolstering its online betting division. Through its Penn Interactive arm, the company caters to over 24 million active members virtually amidst the current pandemic.
To begin with, PENN stock currently trades at $83.61 as of 2:18 p.m. ET. This would be after skyrocketing by over 900% since its pandemic era low. Despite its current momentum, PENN does not seem to have plans on slowing down anytime soon. Earlier today, the company opened a career center and is looking to hire employees for its Hollywood Casino Morgantown facility. Simply put, it seems that PENN is keen on maintaining its lead with the nation’s largest and most diversified regional gaming footprint. Would this make PENN stock a top buy for you?
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Roku Inc.
Last but not least, we have a leading name in the video streaming space, Roku. For the most part, Roku’s operations revolve around the biggest players in the streaming industry now. To explain, the company’s streaming platform serves as a one-stop hub for consumers looking to subscribe to their favorite services. Roku benefits through this via a mixture of ad revenue and commissions from subscription fee payments made on its platform.
With ROKU stock trading at $343.54 as of 2:18 p.m. ET, could it be worth investing in? Well, for one thing, Roku appears to be kicking into high gear on the operational front now. Namely, Roku is planning to launch its video streaming hardware in Germany later this year. According to the company, it will be working with local content producers and its major partners in the region. These include Amazon’s (NASDAQ: AMZN) Prime Video, Netflix (NASDAQ: NFLX), and Disney’s (NYSE: DIS) Disney+. As such, will you be investing in ROKU stock?
