Are These The Best Consumer Discretionary Stocks To Buy This Week?
This could be an exciting week for many investors of the stock market as Wall Street prepares to wrap up the worst first half for stock indexes in many years. Additionally, there will be several key developments to watch out for. This includes the core PCE inflation data, the Federal Reserve’s preferred measure of consumer prices, and notable earnings from Nike (NYSE: NKE), and Bed Bath & Beyond. Therefore, consumer discretionary stocks could be in focus this week.
Aside from its highly-anticipated fourth-quarter earnings report later today, Nike also recently inked a deal with Apple (NASDAQ: AAPL) TV+. The collaboration aims to develop a series of sports films for the streaming platform. As part of the partnership, Apple will provide financial aid and be responsible for the distribution of the films. In turn, Nike will utilize its production label Waffle Iron Entertainment and Makeready to produce the films.
Alternatively, with digital assets such as non-fungible tokens (NFT) making waves over the past year, eBay (NASDAQ: EBAY) could be worth noting. The company announced last Wednesday that it has acquired KnownOrigin. This new addition will allow artists and collectors to create, buy, and resell NFTs via blockchain-support transactions. All in all, it is not surprising that investors are paying more attention to consumer discretionary stocks right now. With that said, here are some of the top names worth noting in the stock market today.
Consumer Discretionary Stocks To Watch This Week
- Bed Bath & Beyond Inc. (NASDAQ: BBBY)
- McDonald’s Corp (NYSE: MCD)
- Funko Inc (NASDAQ: FNKO)
- Li Auto Inc (NASDAQ: LI)
Bed Bath & Beyond
Bed Bath & Beyond, or BBBY in short, is an omnichannel retailer. In detail, the company sells an assortment of merchandise in the home, baby, beauty, and wellness markets. Some of its most notable brands include Bee & Willow, Simply Essential, Nestwell, Haven, and many more. Besides that, it also operates Decorist, an online interior design platform that provides home designing services. That said, investors should note that BBBY stock has been in a slump lately, dropping more than 50% this year. With its fiscal first-quarter earnings report coming up soon, could a strong quarter turn the tides for the company stock?
Last week, the company unveiled Welcome Rewards™, a new program that brings valuable savings and benefits to its customers. So, customers can redeem points on every purchase, with no exclusions, every time they shop. These perks will be available to customers who shop online and in stores nationwide at Bed Bath & Beyond, buybuy BABY, and Harmon. In addition, Else Nutrition Holdings also recently announced that its Plant-based complete nutrition products will soon be available at over 130 locations of buybuy BABY. Safe to say, this is a testament to BBBY’s ability to reach its customers throughout the years as more brands put their trust in the company. Given these encouraging developments, would you consider investing in BBBY stock ahead of its earnings report?
McDonald’s
Another top consumer discretionary name that would be no stranger to most is McDonald’s. Its menu includes hamburgers and cheeseburgers, Big Mac, Quarter Pounder with Cheese, Filet-O-Fish, wraps, shakes, soft drinks, coffee, McCafe beverages, and other beverages. Well, some may argue that the company’s locally relevant menu of food and beverage has become a staple for most consumers. As such, many investors are constantly keeping tabs on MCD stock. However, MCD stock has been moving sideways for most of the past year.
Fortunately, McDonald’s is a company that doesn’t easily rest on its laurels despite its stature within the fast-food industry. Last week, the company and Adyen (OTCMKTS: ADYEY) announced the expansion of their mobile app partnership to the U.S. This collaboration first started in the U.K. in 2020 and has proven to be a success. So, loyal customers can pay with their saved payment method on the McDonald’s mobile app at the kiosk, drive-thru, and front counter using a four-digit code. Naturally, this brings a whole new level of convenience for customers and potentially enhances the company’s operational speed. With that in mind, could MCD stock be a top consumer discretionary stock to watch right now?
Funko
Funko is a pop culture consumer products company. For the most part, the company engages in the sales of a broad range of pop culture consumer products, featuring characters from a range of media and entertainment content, including movies, TV shows, video games, music and sports. The company’s brands include the likes of Pop!, Mystery Minis, and Funko Soda. Therefore, it would not be surprising that the company’s products are often in demand at any given time. Notably, FNKO stock has been on a bullish run, rising nearly 20% over the past month.
Earlier this month, Funko announced the acquisition of Mondo, a high-end pop culture company. For the uninitiated, Mondo creates vinyl records, posters, soundtracks, toys, apparel, games, books, and other collectibles. Together, Funko believes that this is an exciting opportunity that would benefit both companies as they blend their fan bases and products together. Moving forward, the Mondo brand can also leverage Funko’s international distribution and licensing network. Hence, putting it in a prime position for long-term growth. Keeping these positive developments in mind, would you say that FNKO stock is a buy right now?
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Li Auto
Last but not least, we will be looking at the China-based new energy passenger vehicles automaker, Li Auto. Essentially, the company’s primary products are its Li ONE sport utility vehicles (SUVs). It also sells peripheral products and provides related services, such as charging stalls, vehicle Internet connection services, and extended lifetime warranties. Even amid broader market volatility, LI stock has skyrocketed by more than 50% during the period. The only question that remains now is, could it sustain this momentum for the remainder of 2022?
Operationally, Li Auto does not appear to be slowing down anytime soon. Last Tuesday, the company unveiled its flagship smart SUV for families, the Li L9. The vehicle is a six-seat, full-size flagship SUV that offers superior space and comfort for family users. On top of that, it comes with the company’s features such as the Li AD Max autonomous driving system, and top-notch vehicle safety measures. Besides, Li Auto claimed that orders for the Li L9 have exceeded 30,000 in just 72 hours since its launch for reservation. Again, this goes to show the outstanding product appeal of the vehicle for family users. All things considered, should LI stock have a place on your watchlist?
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