The sports industry typically rake in millions of dollars. From physical events to promotions and endorsements, he's one of the few areas that continued to thrive during the pandemic.
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And for investors, this can be a profitable investment opportunity and provide diversification. In fact, sports stocks can include sports venues, sporting equipment, and even sports teams.
Here are some of the best sports stocks to invest in, based on data collected on April 18th.
topgolf callaway brand
- Past year: -31.43%
- year to date: 8.30%
- last month: 7.92%
The stock is traded on the New York Stock Exchange.
The Motley Fool reports that the stock appears to be gaining momentum due to negotiations over a potential spinoff deal.
In the reported deal, Topgolf will become an independent entertainment company and its golf equipment business will be sold, the Motley Fool added.
draft kings
- Past year: 98.97%
- year to date: 18.09%
- last month: -4.92%
Shares of online sports entertainment and gaming company DraftKings have performed well over the past year, and some analysts believe the stock could continue to grow.
In an April 13 research note, CFRA Research issued a hold opinion on the stock, saying, “DKNG is a pioneer in mobile sports betting and mobile gaming with industry-leading technology and customer service.” .
“DKNG estimates the total addressable market for mobile sports betting and iGaming in North America to be $80 billion. As competition increases, we believe DKNG will be able to control approximately 40% in the long term.” wrote CFRA equity analyst Zachary Walling in a note.
churchill downs racetrack
- Past year: -7.20%
- year to date: -11.90%
- last month: 1.23%
Churchill Downs Airlines is scheduled to report year-over-year earnings on April 24, and Zacks reported that while those earnings are expected to decline, the stock could rise if it beats expectations.
Vail Resorts
- Past year: -14.59%
- year to date: 0.38%
- last month: -4.74%
Several research analysts, including Stifel Nicolaus, rate the stock a “buy” and also set a price target of $263. Trust Financial has set a price target of $290. According to MarketBeat, Morgan Stanley raised its price target to $248.
dicks sporting goods
- Past year: 37.16%
- year to date: 33.06%
- last month: -9.04%
Dick's Sporting Goods is doing pretty well, even as inflation from budget-conscious consumers hits many retailers.
Meanwhile, Zacks noted that smart investors may want to bet on retail stocks like Dick's, which has a buy opinion.
GOBankingRates Details
This article originally appeared on GOBankingRates.com: 5 Best Sports Stocks to Invest in
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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