Should Investors Be Watching These Top Leisure Stocks In The Stock Market Today?
While the broader stock market today is on the decline, leisure stocks could continue to shine. After all, the industry caters to the needs of the masses in good times and bad. This is mostly thanks to the wide array of consumer-focused businesses spread throughout the leisure space today. Whether it is gaming, marijuana, or even social media, people are more eager than ever to relax. More importantly, some of the top leisure companies are more than happy to provide, for the right price. Likewise, I could see investors keeping an eye out for the best leisure stocks to invest in now.
Sure, the stock market may be on the decline now. Amidst the current movement in stocks, leisure companies remain hard at work. Earlier today, video streaming giant Roku (NASDAQ: ROKU) released its latest piece of streaming hardware. Namely, the company is now planning to roll out the Roku Streaming Stick 4K and 4K+. The likes of which would provide consumers with improved streaming speeds and wireless capabilities. Elsewhere, home workout equipment retailer, Peloton (NASDAQ: PTON) appears to be eyeing commercial markets. Today, the company unveiled its latest platform, catering to hospitality industry customers. With the leisure industry getting fired up, could these top leisure stocks find their way to your watchlist now?
Best Leisure Stocks To Watch This Week
- AMC Entertainment Holdings Inc. (NYSE: AMC)
- Canopy Growth Corporation (NASDAQ: CGC)
- NVIDIA Corporation (NASDAQ: NVDA)
- United Airlines Holdings Inc. (NASDAQ: UAL)
- Facebook Inc. (NASDAQ: FB)
AMC Entertainment Holdings Inc.
AMC is a leisure company that delivers distinctive and affordable movie-going experiences throughout the U.S. In fact, the company is one of the largest movie exhibition companies in the U.S. and also the largest in Europe with approximately 950 theatres and over 10,000 screens across the globe. It continuously innovates in the industry with its unique guest and shareholder engagement programs and also its premium large format experiences. AMC stock currently trades at $40.12 as of 1:16 p.m. ET and is up by over 600% in the past year alone.
Earlier in the month, the company announced a $25+ million multi-media advertising campaign with national television advertising across the country beginning on September 12. The company says that this unprecedented move will help remind movie lovers that Hollywood’s stories are enjoyed in their best light, with seamless and multi-sensory experiences at AMC. The campaign will also run in nine European countries by AMC-owned Odeon Cinema Group. Given this piece of news, will you consider watching AMC stock?
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Canopy Growth Corporation
Canopy Growth Corporation is a cannabis company with headquarters in Ontario, Canada. The company is a multi-faceted cannabis company with a strong investment in brand and product differentiation. It continues to create a dominant global business that has the potential to generate a significant and sustained return on shareholder capital over the long term. It has its own medical brand, Spectrum Therapeutics that sells a range of full-spectrum products using its color-coded classification system and is a market leader in both Canada and Germany. CGC stock currently trades at $13.62 as of 1:16 p.m. ET.
Last week, the company launched its first-ever CBD vape, whisl. “At Canopy Growth, we are pioneering the concept of using CBD to help consumers manage their moods at any given time of day,” said Andy Lytwynec, Vice President, Global Vape Business at Canopy Growth. “With whisl, we want to empower consumers to quickly achieve focus, calmness or prepare for sleep with a modern CBD solution that is fast-acting and can fit seamlessly into anyone’s daily routine.” It also announced the release of three new vaporizer updates through its subsidiary STORZ & BICKEL. Given the series of launches in September alone, will you consider investing in CGC stock?
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Nvidia Corporation
Next up, we have Nvidia, a tech company that invented the Graphics Processing Unit (GPU). The company is responsible for ushering in the age of modern computer graphics and had essentially revolutionized parallel computing. It has also been investing in deep learning and has ignited modern AI with its GPUs. Nvidia’s products are also widely used by the gaming industry to enjoy today’s most graphic-intensive games on the market. NVDA stock trades at $208.44 as of 1:16 p.m. ET.
Today, the company announced that it will be releasing a new display driver today that adds Deep Learning Super Sampling (DLSS) support to 28 games. Furthermore, it will now be certified for both Windows 10 and Windows 11. These 28 additional DLSS games bring the total of games with DLSS support to more than 100, a huge milestone for Nvidia’s AI-based temporal upscaling. DLSS will upscale games from a lower resolution to provide smoother frame rates without a noticeable compromise in image quality. Ultimately, this would allow more users to own and utilize Nvidia GPUs in the long run. With that being said, will you add NVDA stock to your portfolio?
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United Airlines Holdings Inc.
Next up, we will be taking a look at United Airlines Holdings or UAL for short. As the name suggests, UAL is an airline operator, hence its designation as a leisure stock. Now, with the resurgence of the pandemic all around, would UAL be worth investing in now might you ask? Well, for one thing, the company boasts one of the world’s largest airline networks. For some perspective, UAL carries out nearly 6,700 flights daily to almost 350 destinations across 50 countries at full capacity.
For investors looking to bet on the company’s long-term recovery post-pandemic, UAL stock would be attractive now. The company’s shares are now trading at $44.25 as of 1:17 p.m. ET. Even after more than doubling since its pandemic era low, UAL stock is still below its pre-pandemic levels. Despite all of this, UAL does not seem to be sitting idly by. As of today, the company is now partnering up with Breakthrough Energy Catalyst. UAL is looking to invest $100 million towards the development of sustainable aviation fuel through this partnership. Would all this make UAL stock worth buying?
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Facebook Inc.
Last but not least, we have social media giant Facebook. As one of the biggest names in the social networking space, Facebook could be a go-to for consumers and investors alike. Over the past decade, the company has and continues to build its digital entertainment portfolio. Now, it also owns the private messaging app WhatsApp and picture-focused social media platform Instagram. With FB stock currently trading at $352.32 as of 1:17 p.m. ET, could it be worth jumping on?
If anything, Facebook is not resting on its laurels at all. In fact, the company is constantly finding new ways to cater to shifting consumer demands. Aside from its industry-leading social media services, Facebook is also building its e-commerce and fintech services. The company recently provided an update on its digital wallet, Novi. According to Facebook David Marcus, Novi will be built on Facebook’s home-grown stable coin system, Diem. With the company looking to expand its horizons, will you be adding FB stock to your watchlist now?
