Are These Entertainment Stocks On Your Watchlist This Week?
While investors are looking for the most active stocks, entertainment stocks are making headlines today. This could be thanks to the box office movie Thor making an estimated $143 million domestically on its opening weekend. Moreover, this is followed by the success of Minions last week of a $125 million opener. This means that movie theaters have possibly returned to pre-pandemic times. As a result, investors could be watching entertainment stocks today.
At the same time, entertainment stocks also include gaming and toy companies. For instance, Mattel (NASDAQ: MAT) is making headlines. This comes as Goldman Sachs (NYSE: GS) analyst Michael Ng boosted its rating on Mattel from a Neutral rating to a Buy rating. This upgrade is because Mattel may benefit from several company-specific demand drivers in TV and film content releases. On top of that, Barbie toy sales are already benefiting from the upcoming theatrical release of Barbie.
Another entertainment stock worth mentioning is Netflix (NASDAQ: NFLX). The latest season of Stranger Things has become the company’s second series to have more than 1 billion hours watched in the first month. With its two-stage release strategy, it’s quite possible that Stranger Things will become the top series watched of all time on the streaming platform. Considering all of this, here are three more entertainment stocks for your watchlist in the stock market today.
Entertainment Stocks To Watch Today
AMC Entertainment Holdings Inc.
Starting us off today, we have AMC Entertainment Holdings, a company that runs a movie theater chain. In fact, it is one of the largest movie theater chains in the world, with over 10,000 screens and 950 theaters. The company also delivers a distinctive and affordable movie-going experience with its loyalty and subscription programs and enhanced food and beverage choices.
Today, it announced that it has achieved its busiest weekend of 2022, both globally and domestically from July 7 to July 10. This was led by the opening of Thor: Love and Thunder, the box office has also been propelled by several summer blockbuster titles. Domestically, AMC’s admissions revenue outperformed the same weekend in 2019 by an estimated 14%. Adding in the company’s international theaters, global admissions revenue outpaced 2019 by 12%.
CEO of AMC, Adam Aron had this to say, “The box office results week after week after week this summer have demonstrated what we at AMC have believed to be true all along: consumers want to experience their movies through the unrivaled experience of a movie theater, with its big screens, big sound, and comfortable big seats. Our now busiest weekend of 2022 was powered by several big movie titles all playing simultaneously. Happily, the enduring resilience and consumer appeal of theatrical exhibition are on full display.” The company also announced that its second-quarter financials will be reported on August 4, 2022, after the market closes. All things considered, is AMC stock worth investing in right now?
Next, we have Hasbro, a global play and entertainment company that continues to deliver immersive brand experiences. It serves its global audience through consumer products that include toys and games. It also owns eOne, an independent studio, and Wizards of the Coast, an award-winning developer of tabletop and digital games best known for its fantasy franchises like Magic: The Gathering.
In late June, the company announced a partnership with the National Basketball Association (NBA) and National Basketball Players Association (NBPA) for the highly anticipated re-launch of Starting Lineup. Starting Lineup is an iconic sports collectibles brand and will include an exclusive officially licensed Panini NBA trading card. Launching this fall in partnership with Fanatics, a global digital sports platform, the Starting Lineup brand will feature legendary NBA superstars as part of its first wave of figures and will be available for pre-order starting September 22 exclusively on Hasbro Pulse and across the Fanatics network of online sites, including Fanatics.com and official league stores.
On June 16, 2022, the company also issued a letter to its shareholders. In it, Hasbro says that its CEO Chris Cocks will be moving forward with the refinement of Hasbro’s long-term strategy. This includes actions to drive meaningful change by focusing on fewer, bigger opportunities, profitably growing our world-class portfolio of brands, and amplifying our industry-leading gaming portfolio. The idea is to be more customer-centric, and place a spotlight on games, multi-generational play, and entertainment for its customers. Now, is HAS stock worth looking into today?
Walt Disney Company
Last but not least, we have the worldwide entertainment company, Walt Disney. The company operates in two segments, Disney Media and Entertainment Distribution (DMED) and Disney Parks, Experiences, and Products are the company’s segments (DPEP). On one hand, the DMED segment includes the Company’s global production and distribution of film and episodic television programs. On the other hand, the DPEP segment of the Company’s business consists of the selling of theme park admissions. The segment also includes the sale of food, beverage, and merchandise at its theme parks and resorts.
In its DPEP segment, Walt Disney has been launching new rides this year to compete with its rival, Universal Studios. Today, the company is preparing to open a new ride at the Magic Kingdom in Orlando. The successful ride at Shanghai China Park, known as The Tron Lightcycle Power Run, has inspired this new ride. The ride pays tribute to the original 1982 Tron film and its sequel, Tron: Legacy, and is partially enclosed giving guests a feel of riding through the grid.
Meanwhile, Thor: Love and Thunder is the 29th feature film produced by Marvel Studios since it was acquired by Disney in 2009. The movie has solidified another blockbuster performance for Marvel Studios. Additionally, it is the third-highest domestic opening-weekend gross since theaters reopened following the pandemic. This is after two other Marvel-produced films, Spiderman: No Way Home and Doctor Strange in the Multiverse of Madness. With such success over the weekend, is DIS stock a buy right now?