5 Hot Reopening Stocks To Keep An Eye On Now

While the stock market today soars on positive job market news, reopening stocks could be in focus. For the most part, this would be thanks to consumers possibly having more spending power in an already consumer-focused market. Without getting ahead of ourselves, let’s look at the core figures in the October nonfarm payroll figures. Impressively, U.S. employers added a whopping 531,000 new non-farm payrolls back to the economy throughout the month. When you compare this to estimates of 450,000, the current momentum in stocks is understandable.

All in all, we seem to be looking at an improving job market alongside rising consumer demand and spending power. Not to mention, there is also news of Pfizer’s (NYSE: PFE) latest antiviral COVID pill possibly reducing hospitalization or death by 89% in high-risk adults. As such, the case for reopening stocks continues to grow all the more. Likewise, companies in this space such as Uber (NYSE: UBER) and Lions Gate Entertainment (NYSE: LGF.A) remain hard at work. In short, Uber reported its first profitable quarter yesterday while Lions Gate is looking to refine its operations with a potential spin-off. With all the activity in the reopening trade now, could these reopening stocks be worth watching in the stock market now?

Best Reopening Stocks To Buy [Or Sell] Right Now

Airbnb Inc.

First up is Airbnb. Naturally, its vacation home rental services would continue to gain traction as the economy reopens now. For the uninitiated, Airbnb mainly operates via its online marketplace.

best ipo stocks (ABNB stock)

Through this marketplace, consumers can book temporary accommodations and related tourism activities. Accordingly, this could place ABNB stock in the limelight now as reopening stocks gain momentum.

Now, the company’s shares are trading at $199.26 as of 11:06 a.m. ET. To highlight, this is after gains of over 10% since today’s opening bell as a result of Airbnb’s latest fiscal quarter results. Overall, the company saw an earnings per share of $1.22 on revenue of $2.2 billion. This smashed Wall Street’s forecasts of $0.75 and $2.1 billion. With Airbnb firing on all cylinders now, will you be buying ABNB stock?

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Live Nation Entertainment Inc.

Following that, we have Live Nation Entertainment. It is one of the world’s leading live entertainment companies that are market leaders like Ticketmaster, Live Nation concerts, and Live Nation Media & Sponsorship.

LYV stock

On top of that, it owns and operates entertainment venues, and manages the careers of music artists. LYV stock currently trades at $123.56 as of 11:06 a.m. ET and has more than doubled in valuation in the past year alone.

The company is up by over 14% on today’s opening bell as it reported earnings recently. Total revenue for the quarter was $2.69 billion, compared to $184 million a year earlier. All business segments have returned to positive operating income, with Ticketmaster delivering its highest operating income at $114 million. Also, fan demand has led to double-digit growth in pricing and on-site spending. With that being said, is LYV stock worth adding to your portfolio right now?

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Canada Goose Holdings

Canada Goose is a lifestyle brand and leading manufacturer of luxury goods. It markets a wide range of jackets, parkas, vests, and other apparel through various avenues, be it wholesale or direct-to-customer through retail. Investors are likely responding to its second-quarter financials that were reported today.

GOOS stock

Diving in, total revenue for the quarter was $232.9 million, up by 40.3% compared to a year earlier. Also, global e-commerce revenue increased by 33.8%, driven by growth in all existing markets.

“Our second-quarter results demonstrate our momentum,” said Dani Reiss, President & CEO. “Across all channels, we are seeing strong leading indicators of peak season demand. With accelerating DTC trends, growing lifestyle relevance, and unique supply chain flexibility, we believe we have the right foundation in place for an outstanding fiscal 2022.” All things considered, is GOOS stock worth buying right now?

Expedia Group Inc.

Another name to consider in the reopening trade would be Expedia Group. For starters, it is an online travel shopping company. Through a collection of websites, Expedia connects consumers and potential travelers with small travel-focused businesses globally. With Expedia helping eager consumers with their travel plans, EXPE stock could be worth keeping an eye on now.

top leisure stocks (EXPE stock)

As it stands, EXPE stock currently trades at $177.90 as of 11:06 a.m. ET. This would be after gaining by a whopping 12% since today’s opening bell. Notably, the current movement in the company’s shares would be thanks to its latest quarterly earnings report.

In it, Expedia posted an earnings per share of $3.53, leaps and bounds above consensus estimates of $1.65. Additionally, the company also raked in a total revenue of $2.97 billion for the quarter, marking a massive 97% year-over-year surge. Given all of this, could EXPE stock be a top buy for you in the stock market today?

[Read More] Top Reddit Stocks To Buy Right Now? 5 For Your Late 2021 Watchlist

Ford Motor Company

Following that, we have the Ford Motor Company. Through its vast portfolio, the company has and continues to serve countless consumers across the globe. At the same time, Ford’s ongoing shift towards an all-electric portfolio could attract investors looking at long-term growth potential. With that said, could F stock be worth watching now?

F Stock

To begin with, F stock is now trading at $19.40 as of 11:06 a.m. ET. Even after year-to-date gains of 120%, Ford does not seem to be resting on its laurels. Just yesterday, the company posted positive growth in its October vehicle sales update. All in all, Ford sold 175,918 new vehicles in October.

Despite this marking a 4% year-over-year decrease, Ford is currently looking at narrower losses compared to prior months earlier this year. According to Ford VP of U.S. and Canada sales, Andrew Frick, “continuous improvement in inventories and new products” continues to drive growth for Ford. With that said, will you be investing in F stock anytime soon?

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