Are These The Best Leisure Stocks To Buy This Week?
Given the state of the stock market today, investors may want to consider looking at some of the top leisure stocks now. Why? Well, for starters, there appears to be a shift from reopening stocks back towards pandemic growth names. This would likely be due to conflicting views on the current state of the economy. On one hand, key inflation indicators continue to hit record highs. Earlier today, the May core personal consumption expenditures price index rose by 3.4% year-over-year, its largest surge since 1992. While this would alarm some, the Federal Reserve, on the other hand, believes that there is no cause for concern now. Regardless of how things may turn out, leisure stocks are viable plays on both sides of the current trade.
For starters, leisure stocks that flourished throughout the pandemic would be in focus now. Understandably, these are your video streaming and digital entertainment stocks such as Fubo (NYSE: FUBO) and DraftKings (NASDAQ: DKNG). After shedding some of their pandemic gains earlier this year, investors may be seeing more undervalued stocks in the sector. Alternatively, there are also options for investors who see the long-term potential within more in-person leisure stocks as well. As the reopening trade begins to cool off now, travel companies like Royal Caribbean (NYSE: RCL) and Airbnb (NASDAQ: ABNB) could be trading at more reasonable prices.