Best Stocks To Buy Now? 5 Entertainment Stocks To Watch This Week

Are These Top Entertainment Stocks On Your July 2021 Watchlist?

Like it or not, entertainment remains an important part of daily life, even amidst the current pandemic. As a result, entertainment stocks could be among the most active stocks in the stock market today. To begin with, most conventional means of entertainment were hit hard at the onslaught of the pandemic last year. This saw the likes of movie theaters, travel agencies, and live event managers operating at major losses. Fast forward a year later and these companies are now considered the biggest potential winners in the reopening trade. Evidently, analysts over at Goldman Sachs (NYSE: GS) recently initiated coverage on Live Nation Entertainment Inc. (NYSE: LYV). In a research note, the firm hit LYV stock with a Buy rating, citing “strong secular growth in the global live events industry”.

At the same time, some of the top names in the digital entertainment space are not sitting idly by too. Earlier this week, video streaming giant Netflix (NASDAQ: NFLX) reportedly hired Facebook’s (NASDAQ: FB) video-game executive Mike Verdu. Notably, Verdu does have a history of working with gaming companies such as Electronic Arts (NASDAQ: EA) and Zynga (NASDAQ: ZNGA). This move would support Netflix’s plans to expand into the video gaming industry. By and large, it seems like the entertainment industry continues to bring its A-game to the table. With that said, could one of these top entertainment players in the stock market be worth your attention now?

Best Entertainment Stocks To Watch TodayGameStop Corporation

GameStop is an entertainment company that focuses on video games, consumer electronics, and gaming merchandise. In fact, it is one of the largest video game retailers in the world and boasts an impressive e-commerce platform. The company has been expanding its business recently, as it continues to expand its fulfillment network with a new facility in Reno, Nevada. GME stock currently trades at $169.04 as of Friday’s closing bell and is up by over 879% year-to-date.

In June, the company released its first-quarter 2021 financial results. Firstly, net sales increased by 25.1% to $1.27 billion. The company also announced the appointments of Matt Furlong as CEO and Mike Recupero as CFO. Both men are from Amazon, where they held senior roles and oversaw growth initiatives during their respective tenures. The company also says that it will be actively pursuing senior talent with gaming, retail, and technology experience. With that in mind, will you consider adding GME stock to your watchlist?

GME stockSource: TD Ameritrade TOS

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Skillz Inc.

Skillz is an online multiplayer video game competition platform. In essence, its platform is integrated into a number of iOS and Android games. Also, its platform helps developers build multi-million dollar franchises by enabling social competition in their games. The company says it has hosted many sports tournaments for millions of mobile players worldwide. SKLZ stock currently trades at $14.54 apiece as of the end of Friday’s trading session.

Last month, it announced that it will acquire Aarki to form the first integrated e-sports advertising platform. Aarki is a leading technology-driven marketing platform. This is no doubt a highly complementary acquisition for Skillz as it broadens its footprint across the rapidly expanding mobile gaming industry. “Aarki’s proven machine learning will pair with Skillz’s robust first-party data to create an unrivaled value proposition for game developers,” said Skillz CEO Andrew Paradise. “The integrated ecosystem will unlock new points of connectivity between consumers, developers, and brands, pairing the right impression with the right user at the right time, all while delivering a superior user experience.” Given the excitement surrounding this acquisition, is SKLZ stock a watch right now?

entertainment stocks (SKLZ stock)Source: TD Ameritrade TOS

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DraftKings Inc.

DraftKings is a gaming and digital sports entertainment company that boasts products that range across daily fantasy, regulated gaming, and digital media. It is the only U.S.-based vertically integrated sports betting operator. The company’s daily fantasy sports product is available in 7 countries internationally with 15 distinct sports categories. DKNG stock currently trades at $43.79 as of Friday’s closing bell.

On Thursday, the company announced that it has received a DFS license from the Louisiana Gaming Control Board. This would mean that its daily fantasy sports product will soon be live in approved parishes in Louisiana. With this launch, Louisiana will become the 44th state in the U.S. to offer DraftKings’ daily fantasy sports. This would span dozens of sports from NFL to MLB and NBA. The company will also be reporting its second-quarter financials on August 6. All things considered, will you watch DKNG stock?

top entertainment stocks (DKNG stock)Source: TD Ameritrade TOS

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Wynn Resorts Ltd.

Following that, we will be taking a look at Wynn Resorts. In brief, Wynn is a developer and operator of high-end hotels and casinos. As you can imagine, demand for its core services would be on the rise as the economy reopens. On top of that, the company also operates via its online gaming division, Wynn Interactive. The likes of which offers world-class online casino and sports betting experiences to consumers across the U.K. and the U.S. By Wynn’s estimates, its gaming division now has market access to 15 U.S. states, encompassing approximately 51% of the American population. With WYNN stock currently trading at $104.70 a share as of Friday’s close, is it worth buying this week?

Simply, CNBC’s Jim Cramer seems to believe so. In the Lightning Round segment of his Mad Money show earlier this week, Cramer told a caller that he is bullish on WYNN stock even with its recent losses. Meanwhile, the company is also bolstering its tourism offerings amidst the current surge in domestic travel. Since July 1, guests at Wynn Las Vegas can once again enjoy its popular all-you-can-eat buffet experience. Given all of this, is WYNN stock a top watch in your books? 

entertainment stocks (WYNN stock)Source: TD Ameritrade TOS

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Walt Disney Company

Disney is a multinational mass media and entertainment conglomerate headquartered in California. The company established itself as a leader in the animation industry before diversifying into live-action film production, television, and theme parks. In the last year, Disney has been investing significantly into its streaming service, Disney+. DIS stock currently trades at $179.31 as of 4:00 pm ET Friday and is up by over 50% in the past year.

Adding to its current momentum, Disney continues to make massive plays, expanding its operations. As of yesterday, the company is planning to build a new regional campus in central Florida. According to Disney, the campus can house at least 2,000 professional employees. To highlight, these employees will be focusing on Disney’s digital tech, finance, and product development segments. Even with the success of its Disney+ platform and the partial return of its tourism operations, Disney continues to press forward. With the company seemingly firing on all cylinders now, will you be keeping an eye on DIS stock?

dis stock priceSource: TD Ameritrade TOS
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