stocks to buy now

Would You Be Eyeing These Top Stocks To Buy If There’s Another Stimulus Check?

A reversal on stimulus checks is sending the stock market to its highest level since early September. The U.S. government is sending out stimulus checks to allow people to keep paying their bills during the economic recession brought by the novel coronavirus. Consumers, in turn, used a significant portion of that money to speculate in the stock market today. Even if the second stimulus check is not passed before Election Day, it could still be approved after November 3. Of course, we don’t know if we would have a new President by then and how the control of the House and Senate will look like.

“A compromise on a big stimulus package in Washington could potentially deliver another October surprise, but the odds are against it as Election Day approaches…“The optics of getting nothing done aren’t great on either side, and there are a lot of close Senate races right now, suggesting there still may be a glimmer of hope for a deal by November 3.”- Jeffrey Buchbinder, LPL Financial Equity Strategist.

Stock futures also traded higher on Friday morning as investors continued to mull chances of a $1,200 virus-relief package. The Dow, S&P 500, and Nasdaq each closed at their highest levels in more than five weeks by the end of the trading day on Thursday. Now, no one can be sure if the rally can be extended to next week. But there is one thing investors can be particularly sure of. That is if there’s no ongoing update to the prospects of stimulus, this excitement could fade, weighing down on the stock market. The market would probably fall as quickly as it rose.

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Top Stocks To Buy [Or Avoid] Right Now: DraftKings

DraftKings (DKNG Stock Report) has been a major outperformer in the stock market this year. The company went public through a special acquisition company (SPAC) in April this year. Since then, DKNG stock has at least tripled in value. However, the stock has taken a breather in the past 5 trading sessions. In fact, the stock lost almost 20% of its value during this period. Now that the stock has had a major correction, would it be a good time to buy? Unless you have been living under a rock, you would know that online sports betting has taken off this year. Thanks to relaxed regulations coupled with the closure of casinos, online betting has experienced huge growth. 

top entertainment stocks to buy (DKNG stock)

And with the kickoff of the 2020 NFL football season, investors have the right to be all bullish. After all, we are in the midst of the “busy season” of sports betting. Don’t get me wrong though. This isn’t a screaming buy, but I am not saying you should be bearish. With increasingly fierce competition from both small and large casino players, it may be tough for DraftKings to live up to expectations. With a limited football schedule next year, there are fewer games for the public to bet on. Whether the DKNG stock will have another push will likely be dependent on the return of the NBA.

With the speedy recovery in the stock market since the March lows, it is not surprising that many have chosen to invest their stimulus checks instead of spending them. Granted, “invest” might be too liberal a word as many of them were looking for quick flips. If there are more stimulus checks, it is not just the stock market that would benefit. Sports betting could benefit too, with football now in full swing and the NBA and MLB coming back up. After all, if there is a stock for bettors to bet on betting, it has got to be DKNG stock, don’t you think?

Top Stocks To Buy [Or Avoid] Right Now: The Wendy’s Company

Fast food restaurants like Wendy’s Company (WEN Stock Report) tend to be some of the most sensitive businesses to fluctuations in discretionary income. The fast-food chain is well-positioned to benefit from the second round of stimulus. Apart from Wendy’s, food chains like McDonald’s (MCD Stock Report) could also benefit from the stimulus check. Wendy’s is popular due to its square-shaped hamburgers, it’s Frosty, and many other menu items. To date, it has become one of the largest fast-food chains in North America. WEN stock has managed to turn green this year, overcoming the losses during the pandemic-induced market sell-off in March.

best consumer stocks (WEN stock)

“Our business and restaurant economic model continues to show incredible resilience as we build momentum with U.S. same-restaurant sales accelerating to high-single-digit growth in July, driven by the continued strength of our breakfast and digital businesses.” Todd Penegor, CEO of The Wendy’s Company 

Wendy’s saw domestic comparable sales rebound quickly. After dropping by 14% in April, they only fell by 1.9% in May. And when July came, the numbers were up 8.2%. Part of that might have been due to the effect of the previous stimulus package, not to mention the gradual reopening of the economy. It seems to many that the company is set to deliver a strong set of results in the third quarter. Should there be another round of stimulus, we can only expect the company’s performance to go up. With that in mind, would WEN stock be a timely addition to your portfolio?

[Read More] Should Investors Buy These Top Airline Stocks After Trump Calls For More Airline Aid?

Top Stocks To Buy [Or Avoid] Right Now: Walt Disney Company

Walt Disney (DIS Stock Report) may not be a top stock to buy right now, but could it be a value buy? In my humble opinion, I think the stock is still trading at a discount. Yes, I get that the majority of its revenue came from its theme park and resorts. But the streaming service is increasingly worthy of attention. Considering Disney+ had more than 60.5 million subscribers as of early August, it has already hit its 2024 subscription goal already. This adds a stream of recurring revenue that is likely to last beyond the pandemic and still continues to grow.


If you have been following the video streaming space closely, you would’ve known that Verizon (VZ Stock Report) has given Disney+ a boost. Customers of the communications company can now stream all things on Disney+. Under the collaboration between the two companies, customers of Verizon’s new unlimited plans are able to access all three Disney streaming services, namely Disney+, Hulu, and ESPN+, at no extra charge. Disney revealed that about 20% of early Disney+ subscribers signed up via the Verizon deal.

The addition of Hulu and ESPN+ to the bundle is certainly icing on the cake. With the sticky behavior of video subscribers, there could be further upside to Disney. Sure, the theme parks and movie theaters may be operating at a minimal capacity. The bottom line is that once the coronavirus pandemic is done and dusted, Disney’s previous revenue generators will come back in full swing. Plus, there would also be a significant stream of recurring revenue from Disney+ unavailable previously. And don’t forget, DIS stock is still trading 17% below where it was at the start of this year. It seems you might actually be getting more for less. Isn’t it a steal?

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