Do You Have These Top Leisure Stocks On Your Radar Now?
In good times and bad, the leisure industry remains a crucial and relevant sector of the stock market. After all, regardless of what is happening in the world, everyone has their own way of spending leisure time. Because of this, leisure stocks now cover a wide array of markets in the stock market today. These include the video streaming, marijuana, and social media industries to name a few. Notably, stay-at-home names such as these would be in an interesting position now. Some would argue that the alarming spread of Delta variant cases globally would see consumers turning to this part of the leisure industry again.
We could look at the likes of Disney (NYSE: DIS) and Curaleaf (OTCMKTS: CURLF) for instance. On one hand, Disney’s explosive entrance onto the video streaming market is a commendable one. Since launching in November 2019, the company’s Disney Plus platform now boasts over 115 million paying subscribers worldwide. On the other hand, Curaleaf continues to benefit from marijuana industry tailwinds. The company reported a 165% year-over-year surge in total revenue in its recent quarter fiscal posted earlier this month.
By and large, both DIS stock and CURLF stock are sitting on gains of over 103% since their pandemic lows. From marijuana stocks to streaming stocks and beyond, investors are spoilt for choices in the current market. With all that said, here are five leisure stocks worth noting now.
Best Leisure Stocks To Watch Right Now
- Roku Inc. (NASDAQ: ROKU)
- Canopy Growth Corporation (NASDAQ: CGC)
- FuboTV Inc. (NYSE: FUBO)
- Tilray Inc. (NASDAQ: TLRY)
- Snap Inc. (NYSE: SNAP)
Roku is a leisure stock that manufactures a variety of digital media players for video streaming. It also pioneered streaming to the TV and connects the entire TV ecosystem around the world. Impressively, Roku streaming devices are used by millions of consumers all around the world. It is also uniquely positioned with its sophisticated TV streaming platform. Its platform enables content providers and advertisers to reach a massive and highly engaged consumer audience. ROKU stock currently trades at $352.33 as of 12:06 p.m. ET.
Last week, the company announced in a blog post that 23 new Roku Originals will premiere on August 13. The new lineup includes four never-before-seen shows. It also features some of Hollywood’s biggest names. This combined with the Roku Channel’s extensive selection of more than 40,000 free movies and TV shows, could continue to fuel the company’s growth. With so many exciting things happening to the company, will you consider adding ROKU stock to your portfolio?
Canopy Growth Corporation
Canopy Growth Corporation is a cannabis company with headquarters in Ontario, Canada. The company is a leading diversified cannabis and cannabinoid-based consumer product company. For instance, its award-winning Tweed and Tokyo Smoke banners reach a wide number of adult-use consumers and have built a loyal following by focusing on top-quality products and meaningful customer relationships. CGC stock currently trades at $17.58 as of 12:07 p.m. ET. The company has also entered into the health and wellness consumer space in key markets through BioSteel sports nutrition.
On August 6, 2021, the company reported its first-quarter fiscal 2022 financials. Among the highlights, it achieved a 23% revenue growth at $107.71 million compared to a year earlier. This was driven by strong double-digit growth in both cannabis and other consumer products businesses. It also maintained the No. 1 market share in tracked Canadian recreational cannabis market amid a highly competitive landscape. The company also boasts a robust innovation pipeline across key product categories that will hit store shelves within the next year. All things considered, will you buy CGC stock?
Next on our list, we have Fubo, a leading streaming company for live and interactive sports. It offers a wide variety of premium content, interactivity, and integrated wagering. By leveraging its proprietary data and technology platform that is optimized for live TV and sports viewership, Fubo is trying to define a new category of interactive television. FUBO stock currently trades at $26.98 as of 12:07 p.m. ET and enjoys gains of over 140% in the past year alone.
Last week, the company delivered a record revenue for the quarter. In detail, it reported a revenue of $130.9 million, up by 196% year-over-year. The company also posted triple-digit year-over-year growth in total paid subscribers at 681,721 total subscribers. Not to mention, CEO David Gandler also believes that this figure could grow to 5 million through 2026. With that in mind, will you be on the lookout for FUBO stock?
Another major name to consider in the leisure trade now would be Tilray. Arguably, the cannabis industry juggernaut would be a viable play in the current market. For the uninitiated, Tilray mainly operates as a global cannabis lifestyle and consumer packaged goods company. The likes of which include over 20 brands spanning both the medical and recreational marijuana markets. For a sense of scale, Tilray is currently operating in the Canadian, U.S., European, and Australian markets among others.
Now, TLRY stock currently trades at $13.72 as of 12:08 p.m. ET after gaining by over 4%. Namely, today’s gains would be on account of the company’s latest announcement. Diving right into it, Tilray now holds a majority of outstanding senior secured convertible notes of MedMen Enterprises. In Tilray’s words, the current move would provide the company with “a potential accelerated path” into the U.S. cannabis market “upon federal legalization”. Despite its current momentum in the weed industry, Tilray does not seem to be slowing down anytime soon. Should federal legalization come into play, TLRY stock could be looking at more room to run moving forward.
[Read More] Stock Market News For Today August 18, 2021
Snap is a leisure company that reinvented the camera to improve the way people live and communicate. It is behind the popular social media application, Snapchat. One of the principal features of Snapchat is that pictures and messages are usually only available for a short time before they become inaccessible to their recipients. The application has also evolved to let brands show ad-supported short-form content through its Discover feature. SNAP stock currently trades at $72.85 as of 12:08 p.m. ET and is up by over 200% in the past year.
On July 22, 2021, the company reported impressive second-quarter financials. Diving in, Snap posted a revenue increase of 116% year-over-year to $982 million for the quarter. Its daily active users (DAU) also increased by 23% year-over-year to 293 million users. DAUs increased sequentially and year-over-year globally and also on both iOS and Android platforms. For these reasons, will you consider SNAP stock a buy right now?