May 7, 2021 6 min read
This story originally appeared on Stock market
4 trending entertainment stocks that you should see right now
Like it or not, Entertainment stocks are still some of the most active stocks on the stock market today. After all, entertainment is a central part of our entire life. This would be especially the case if we have been in a global health crisis for more than a year. Entertainment allows most consumers to forget their worries for a moment, which benefits both organizations and investors. Fortunately for investors, there is a wide variety of entertainment stocks on the market Stock market right now.
On one hand, you have digital entertainment companies that thrived during the pandemic. In that group there are video streaming companies like Roku (NASDAQ: ROKU) that continue to entertain the crowds at home. On the other hand, traditional forms of personal entertainment continue to gain momentum as pandemic conditions improve too. For starters, we could look at Cruise ships like carnival (NYSE: CCL) and Royal Caribbean (NYSE: RCL). The duo would prepare to return cruise tours this coming summer. Not to mention entertainment stocks like AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) are considered the hottest Meme stocks now. Obviously, there is no shortage of investor hype in this industry, to say the least. Could be one of these Top entertainment stocks Is it therefore worth investing in the stock market?
Best entertainment stocks in May
DraftKings Inc.
DraftKings is a digital sports entertainment and games company. The offer includes daily imagination, regulated gaming and digital media. It is the only vertically integrated sports betting provider based in the United States. Essentially, the company is a multi-channel sports betting and gaming technology provider that offers sports and gaming entertainment for over 50 operators in 17 countries. The DKNG share is currently trading at $ 49.49 as of 1:40 p.m. (CET) and has more than doubled in the past year. The company released its financials for the first quarter today, much to the delight of investors.
Source: TD Ameritrade TOS
First, the company had sales of $ 312 million, an impressive 253% year-over-year increase. The monthly individual payers for the B2C segment increased by 114% compared to the previous year. In the first quarter, an average of 1.5 million paying customers were employed with DraftKings per month. The increase reflects the strong retention and acquisition of players at Daily Fantasy Sports, Online Sports Betting and iGaming. Given the company’s great start in 2021, it has raised its fiscal 2021 revenue forecast to between $ 1.05 billion and $ 1.15 billion. This would correspond to a sales growth of 79% compared to the previous year. Given this exciting news, will you consider buying DKNG shares?
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Skillz Inc.
Skillz is an entertainment company that provides game developers with monetization services through mobile esports platforms. The company’s main activity is developing and supporting an online hosted technology platform. This would allow independent game developers to host tournaments and offer competitive gaming activities to end users. Given that mobile gaming has grown in prominence in recent years, could Skillz be on the up too? Earlier this week, ARK Invest continued to add Skillz shares to its actively managed exchange-traded fund.
Source: TD Ameritrade TOS
On Tuesday, the company reported record first-quarter revenue and also raised its guidance for 2021. Skillz posted revenue of $ 84 million, up 92% year over year. It is impressive that the paying monthly active users have grown by 81% compared to the previous year. It also ended the quarter with $ 613 million in cash and had no debt. Skillz also noted that it had increased its Android footprint and that Android users’ sales were growing twice as fast as iOS. For its financial outlook, the company is increasing its 2021 revenue forecast to $ 375 million, up 63% year over year. With that in mind, are you considering buying SKLZ shares?
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Penn National Gaming Inc.
Next on that list is Penn, a casino and race track operator. The company owns and operates 41 gaming and racing properties in 19 states and operates video game terminals with a focus on slot machine entertainment. It also offers live sports betting at its Colorado and Iowa homes, among other things. The company’s strategy has evolved from owner of gaming and racing real estate to omnichannel provider of retail and online games, live racing and sports betting entertainment. PENN stock is currently trading at $ 86.09 as of 1:40 p.m. (CET) and is up over 350% over the past year.
Source: TD Ameritrade TOS
On Thursday, the company released its first quarter financials and essentially started the year with record results. Specifically, the company had sales of $ 1.27 billion, an increase of 14% over the previous year. Net income for the quarter was $ 90.9 million. The company was also included in the S&P 500 in March, underscoring the investment community’s confidence in digital transformation and its position as the largest regional gaming operator in the US Portfolio?
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Netflix Inc.
At the top of our list is Netflix, a content platform and production company headquartered in Los Gatos, California. It is one of the world’s leading entertainment services with 208 million paid memberships in over 190 countries. The company’s portfolio includes a wide variety of TV series, documentaries, and feature films in a variety of genres and languages. NFLX stock currently trades at $ 502.23 as of 1:41 p.m. ET.
Source: TD Ameritrade TOS
Despite its current lead in the streaming industry, Netflix isn’t resting on its laurels just yet. According to reports, the company plans to create a platform called “N-Plus”. Netflix describes N-Plus as a “future online area” where subscribers can learn more about their Netflix preferences. By and large, this would help streamline the content recommended by users while improving customer loyalty. If that wasn’t enough, users could also create and share playlists made up of their favorite shows. Would you consider NFLX stock to be one of the best entertainment stocks to buy as Netflix continues to strengthen its massive streaming portfolio?
