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China Life Insurance Company Limited
Constellation Brands, Inc.
China Telecom Corporation Limited
China Unicom (Hong Kong) Limited
Bio-Rad Laboratories, Inc.
Peloton Interactive, Inc.
James Hardie Industries plc
ASE Technology Holding Co., Ltd.
Tallgrass Energy, LP
Livongo Health, Inc.
Shell Midstream Partners, L.P.
Vertiv Holdings Co.
Western Gas Partners, LP
Virgin Galactic Holdings, Inc.
Companhia Brasileira de Distribuição
LG Display Co., Ltd.
Manchester United plc
AllianceBernstein Holding L.P.
Ra Pharmaceuticals, Inc.
Ping Identity Holding Corp.
A day after SpaceX launched astronauts into orbit, its Dragon spaceship docked with the international space stations. Both have lessons for investors that can help generate returns in the near term.
Canopy Growth (NYSE: CGC) shares aren't anywhere close to their levels in late 2018 and early 2019 as the Canadian adult-use recreational marijuana market was first launching. If Canopy can remain a top leader in the industry, it could be able to deliver more impressive gains in the future than it has in the past. There's no question that Canopy has plenty of growth opportunities.
My view is that IIP should be able to continue its remarkable growth trajectory for years to come. There are two keys for IIP to double an initial investment by mid-2025. First, the company must keep paying a dividend at least at its current level.
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
Is Livongo Health still a great stock to buy? Livongo Health's story is similar to that of many successful companies. In Livongo's case, the need was to help individuals better manage their chronic health conditions.
Even though the market has rebounded from the lows it hit earlier this year, there are still great long-term opportunities for investors who know where to look.
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
Canopy Growth earnings were much worse than views. The Canadian marijuana producer said it'll now focus on "select priority markets." Marijuana stocks fell.
The industry is shooting for the stars. But when it comes to investing in Virgin Galactic (NYSE:SPCE) and SPCE stock, it's enough to stay tethered to the price chart as well as a smart risk-adjusted position in a sometimes hostile investing environment. Let me explain.Source: Tun Pichitanon / Shutterstock.com Space, it's the final frontier. And this week we got a bit closer to exploring those boundaries face-to-face than we've been in a long time. Tesla's (NASDAQ:TSLA) Elon Musk was expected to send two astronauts into orbit via his privately held SpaceX venture on Wednesday. It would have marked the first manned mission into space in more than nine years. However, Mother Nature scuttled the launch.For many stargazers watching from the sidelines should be rewarded Saturday when a second attempt is planned. But for those that want to participate on a whole other level and where "mission accomplished" can spell big-time profits, it's time to consider buying SPCE stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSPCE stock is the publicly-traded version of Sir Richard Branson's Virgin Galactic. The venture's angle on the race to space is commercial tourism. And amid the skepticism and worries, there's stronger reasons to see shares as positioned for huge future success.To be clear, right this second, it isn't a risk asset that's going to be universally appealing. The company's lack of profitability among other metrics investors find useful, is certain to keep many looking the other way. Nevertheless, Virgin Galactic is positioned as the kind of investment that could eventually yield a multi-bagger return. But don't just take my word for it. * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure InvestorPlace's Louis Navellier -- a guy who knows a thing or two about finding massive ground floor investment opportunities -- is on board with SPCE stock. A March recommendation has proven "early," but with his bullish thesis largely intact, today's investors are reasonably at an even stronger advantage. And Louis isn't the only pro bullish on Virgin Galactic.More recently, Matt McCall asked investors to look past the company's recent mixed earnings report and embrace shares as an "excellent spec play."Matt and his research team are upbeat on the stock's prospects after factoring in fine print within the quarterly press release. Those devilish details announced Virgin's Space Act Agreement with NASA to develop high-speed travel technologies that will be used right here on planet Earth. And that could be a very profitable win for the company regardless of what happens in the final frontier.Okay, but how about Richard Branson's sale of 2.6 million shares earlier this month? Top insider selling could be cause for investors to hit pause, instead of the buy button. That would be a mistake though. The sale, which netted in the neighborhood of $500 million and reduced the founder's stake by about 22%, is being used as a lifeline to support his other global and consumer driven businesses hurt by the novel coronavirus. All told, the headline fails to tell the whole story. SPCE Stock Weekly Chart Source: Charts by TradingViewSimilar to most growth stocks in their earliest phase of being introduced to investors, SPCE stock has seen euphoric highs backed by unsustainable optimism followed by "end of times" like bearish behavior. From Amazon (NASDAQ:AMZN) to Netflix (NASDAQ:NFLX) or Nvidia (NASDAQ:NVDA), it has happened to the very best of them.To be fair, the next part of those storied journeys, which delivered massive future returns, is the more difficult task to replicate. But SPCE stock is in position technically right now to begin its own launch higher.Shares are currently in the early stages of a building uptrend after this year's ride into the high heavens and crash back down to earth. What makes a purchase today more interesting is that the stock has pulled back fairly hard the past couple weeks from its own ubiquitous novel coronavirus bottom to form a new, but possibly questioned pivot low.The chart above details how last week's pivot undercut a low in April. It's certain to have raised a flag or two for some investors. More importantly, shares have now confirmed a new modestly lower low without failing the initial pattern on a closing basis. Along with a bullish stochastics crossover inside oversold levels, I'm optimistic of Virgin Galactic's chances for a sustainable rally from here.Today's forecast is calling for a price target that breaks above the 38% retracement level, which acted as resistance earlier this month. Specifically, I'm looking for shares to reclaim the 50% to possibly 62% levels in the second half of 2020.But don't expect an easy ride, even if the outlook proves correct. A rally is also very likely to remain bumpy, counterproductive at times and able to knock the best stop losses out of contention. With that in mind, one favored way to position for your own potential multi-bagger with vastly reduced and limited risk is the Oct $23 / $30 bull call spread for about $1.15. This also requires much less from SPCE stock.Disclosure: Investment accounts under Christopher Tyler's management do not currently own positions in securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post How to Ride a Multi-Bagger Opportunity in Virgin Galactic Stock appeared first on InvestorPlace.
Although they're two separate entities, Virgin Galactic (NYSE:SPCE) and Virgin Orbit will forever be linked to their shared brand name. As well, both organizations have businesses that overlap each other. Usually, these types of similarities, especially those associated with billionaire Richard Branson, have positive implications. This time around though, SPCE stock may end up getting the short end of the stick. Click to EnlargeSource: Tun Pichitanon / Shutterstock.com With space travel being the shared DNA in the two companies, a success in one augurs well for the other. However, the opposite is also true. A few days ago, Virgin Orbit attempted to demonstrate a new rocket system which is designed to send small payloads to orbit, according to the New York Times. However, on its initial launch attempt, management stated that an undisclosed problem forced the project to abort abruptly.Where this is crucial for SPCE stock is that although Virgin Galactic is focused on space exploration with human passengers, it utilizes the same launching concept as Orbit. Both platforms are carried into the air by a larger plane and dropped, with the platforms' separate rocket system carrying them into the next leg of their journey.InvestorPlace - Stock Market News, Stock Advice & Trading TipsEssentially, we have two major concerns. First, Virgin Orbit's launch failure doesn't exactly provide much confidence for human space travel under a similar system. While it may not impact SPCE stock immediately, in the long run, passenger fears over safety may erode demand. * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure Another point is that this process of mid-air launches may not resonate. It's been done before but to no mainstream adoption. And with this latest failure, the situation doesn't look great for either Virgin Orbit or Galactic. SPCE Stock Suffers from Unfortunate TimingGranted, this is a long, experimental road. I'm sure that Branson himself realizes that by the time his space companies that he helped found actualize the "good stuff," he will no longer be with us. So, if you're a young investor and have nothing but time, Virgin Galactic might make sense.However, I can't help but notice that SPCE stock is a victim of poor timing. Based on technical trends, it's quite possible that were it not for the novel coronavirus bringing a hard stop to the global economy, Virgin Galactic could be one of the best performers of 2020. Between the beginning of January through Feb. 19, shares more than tripled in market value.Of course, SPCE would soon come crashing down as the U.S. and developed nations crumbled under the weight of the pandemic. But as coronavirus cases have started to decline, individual states and countries have started the slow process of reopening. Theoretically, we should see risk-on sentiment return, even for speculative companies like Virgin Galactic.Call me pessimistic but I'm not entirely convinced. Back in September of last year, a UBS survey covering sentiment of ultra-wealthy households - we're talking average family wealth of $1.2 billion - revealed that a majority anticipated a recession by 2020.Most notably, the extremely affluent didn't just believe a downturn was on the way; they acted on their instincts. This entailed adjusting their portfolio, particularly shifting emphasis toward bonds and real estate. Moreover, a significant number bumped up their cash reserves.I mention these things to highlight that, contrary to popular wisdom, recessions do impact the wealthy, probably more so than the Regular Joe. That's why they took action to protect their capital. Logically, I don't think they're in the mood for quarter-of-a-million-dollar space tickets. A Poor Precedent Awaits Virgin GalacticFinally, a major deterrent against SPCE stock is that niche travel services don't work out well. In a March 2020 article about Virgin Galactic, I had this to say:…we've seen this story before. For several years, Air France-KLM (OTCMKTS:AFLYY) and British Airways operated the Concorde, a supersonic commercial jet.From a scientific perspective, the Concorde was an impressive achievement in flight. As well, casual bystanders appreciated its sleek, aerodynamic design elements. But from a business angle? As The Sun reported, low passenger numbers and rising maintenance costs killed the program.Here's something else to chew on - the Concorde worked. Up until its notorious crash in Paris on July 25, 2000, the supersonic jet had a perfect safety record.Virgin Orbit's recent failure suggests that not everything with the launching process is in tiptop shape. And if something goes wrong with a human space flight, the impact to SPCE stock could be disastrous. Given the many variables involved, I'm going to keep my portfolio terrestrial for the time being.A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post Why Virgin Galactic Is Still Dreaming of Space Travel appeared first on InvestorPlace.
Stepping back, and taking a macro look at the markets, JPMorgan strategist Marko Kolanovic believes that the risks posed by COVID-19 to public health and economic prosperity were badly overstated back in March, leading to a series of frankly wrong decisions that we are still feeling now. But now, the economy is starting to improve, and the current bear market’s bull rally is looking more and more like a sustained trend rather than a one-off event.However, Kolanovic acknowledges several large-scale risks. He points out that California and New York are the largest economic units in the US, and that the coronavirus pandemic has had an important – and negative – impact on ‘global cooperation and trade.’ Kolanovic writes, “We will closely monitor how these risks evolve, but at this point see them as potential tail risks rather than an imminent threat, and thus maintain our positive outlook on markets.”That positive outlook on the markets includes pointing out promising stocks. JPMorgan analysts have been noting a number of bullish stock moves — companies that are well-positioned to make gains in coming months. We’ve looked at three of those stocks through the lens of the TipRanks database, to find out what makes them compelling buys.Bilibili, Inc. (BILI)Up first is a Chinese internet video sharing website focusing on anime and comics and including a large Japanese audience – while for business purposes, traded in New York. Bilibili is a truly international company that has found a niche and levered it for growth. Since it started trading three years ago, this stock has seen considerable growth, tripling its share value in that time. In the months since the February market collapse, BILI has heavily outperformed the markets.Bili’s financial stats back this up. While the company operates at a net loss, the strong positives recorded in Q1 2020 included: 69% year-over-year revenue growth, to $327 million; an increase in average monthly users to 172.4 million, up 70% year-over-year (yoy); and an increase in daily active users to 50.8 million, up 69% yoy. The most impressive stat, however, is the increase in monthly paying users – a key metric. This rose to 13.4 million, for a 134% yoy increase.With positives like those, it’s no wonder that BILI is getting lots of love from Wall Street’s analysts. JPM analyst Alex Yao upgraded this stock from Neutral to Buy after the earnings report. His price target, which he raised to $42, indicates confidence in a 37% upside for the coming year. (To watch Yao’s track record, click here)In his comments, Yao wrote, “…it was the steady or even improving engagement metrics (i.e. DAU/MAU ratio, average daily time spend, etc.), in spite of the strong user growth, which makes us believe strong user growth remains achievable in the next 1-2 years, as a virtuous cycle between content and user base has been formed and reinforced by COVID-19. We expect seasonal user growth momentum (i.e. 3Q/1Q) to drive further share price upside.”Based on all the above factors, Wall Street analysts are thoroughly impressed with BILI. It boasts 100% Street support, or 7 Buy ratings in the last three months, making the consensus a Strong Buy. The $36.25 average price target implies that shares could surge 18% in the next twelve months. (See Bilibili stock analysis on TipRanks)Wyndham Destinations (WYND)Next up is Wyndham Destinations, a major operator of hotel brands and vacation ownership timesharing programs. Wyndham’s destinations are located in North America and the Caribbean, along with the South Pacific. As state begin to loosen economic restrictions, Wyndham expects to see a gain in activity; it’s North American locations will not be dependent on air travel to attract customers.With so much of the country under lockdown orders in Q1, WYND shares felt the pain. The stock is still down 37% year-to-date, severely underperforming the broader markets. Q1 earnings were grim, well below expectations at a 98-cent net loss.And yet, with all that, WYND shares are looking up. The company has announced that it will be reopening its resorts in 2H20, and expects that the corona lockdowns will have generated pent-up demand. With most of its American properties within driving distance of potential customers, Wyndham expects it can sell its destinations as compatible with social distancing rules. And finally, the company reported this month that it is sitting on $1 billion is cash reserves, and as access to an additional $342 million through a credit facility. With that kind of money available, Wyndham has said that it can continue operating for another 23 months.As a further gesture for investors, WYND will continue paying its 50-cent quarterly dividend. The dividend has been increased steadily over the past 2 years, and now at $2 annualized it offers an excellent yield of nearly 6.3%. Considering that the average yield among hospitality and services companies is only 1.37%, WYND’s yield is impressive.Joseph Greff, one of JPM’s 5-star analysts, is optimistic. He says of WYND shares, “We see WYND’s risk-reward as favorable given the potential for relatively attractive near-term leisure demand that is not reliant on air travel and that is offered at an affordable price point. We think WYND’s current bookings position is underappreciated with its second half 2020…”Greff shifts his view on WYND from Neutral to Buy, and sets a price target of $35. This suggests that he sees 10% upside growth in the stock’s future. (To watch Greff’s track record, click here)Wyndham has a Strong Buy analyst consensus rating, based on a 7 to 1 Buy-Hold split. Shares are selling for $31.94, and the $39.86 average price target indicates room for an upside of 25% in the coming 12 months. (See WYND stock analysis on TipRanks)Martin Marietta Materials (MLM)A commercial economy outgrowth of the old defense giant by the same name, the modern Martin Marietta company lives in the heavy construction niche, providing cement and other aggregate building materials for commercial and municipal purposes. The company’s products are common in roads and sidewalks – there is a strong chance that you have walked on them.MLM was hit hard by the Q1 economic shutdowns. The cessation or slow down of construction work reduced demand for MLM products, and the company reported sharp sequential declines in earnings. There were some bright spots, however. EPS remained positive, at 41 cents per share. Revenue was slightly up year-over-year, to $958.2 million. And the company reported strong gains in cash on hand, from $21 million at the end of 2019 to $424 million as of the end of Q1 2020. And best of all for investors, MLM projects Q2 earnings of $2.78 per shares, getting close to pre-corona levels.Martin is our third upgrade from JPM. Analyst Adrian Huerta raised his stance from Neutral to Buy, and set a $210 price target that indicates 9% upside growth potential for the year. (To watch Huerta’s track record, click here)Supporting his move, Huerta writes, “We see attractive upside at least in the short-term as 2Q will likely not be as bad as previously expected... Also, as the trade war with China intensifies, we see increased interest on domestic driven sectors like this one.”With 7 Buy and 5 Hold ratings, the analyst consensus on Martin Marietta Materials is more evenly divided than the other stocks on this list. MLM shares are currently selling for $194.28, while the average price target of $222.92 suggests a one-year upside potential of 15%. (See Martin Marietta stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Peloton Interactive's (PTON) business gains from the meteoric rise in demand for its products and services amid the stay-at-home requirement induced by COVID-19.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]
In a recent write-up, I discussed how Penn National (NASDAQ:PENN) stock isn't the best casino play out there. But, given how shares have skyrocketed in recent weeks, did I miss the mark? Or was I too early to the party, going bearish before the excitement dissipated?Source: Casimiro PT / Shutterstock.com A little from column A, and a little from column B.On one hand, chalk up my concerns about valuation to a case of splitting hairs. With investors looking to bet on a rebound post-coronavirus, I didn't anticipate casino stocks moving so high so fast.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAlso, there's another factor at play: the company's investment in Barstool Sports, and the potential synergies between the sports podcasting giant and Penn's budding sports betting business. * 7 Red-Hot Biotech Stocks Racing to Develop a Coronavirus VaccineOn the other hand, investors may have gotten ahead of themselves. Casinos from coast to coast are opening back up. But it's not as if they're going back to 100% capacity anytime soon. With social distancing rules in place, it's going to be much less lively at the tables and slots.So, what does that mean for PENN stock? Don't expect shares to crash back to March's fire sale prices. But, it's reasonable to assume shares could take a breather after this month's epic rally.Let's dive in and see why today's not the time to dive into this stock. The Good, Bad, and Ugly With PENN StockWhile I am bearish on this stock's near-term prospects, I do believe the company has some unique strengths relative to other casino stocks. Unlike larger rivals like MGM (NYSE:MGM), Las Vegas Sands (NYSE:LVS), and Wynn (NASDAQ:WYNN), this company is much less tied to Las Vegas.The company owns two major properties out in the desert. But it's the collection of regional properties that makes up the core of Penn National.As InvestorPlace's Will Ashworth wrote May 26, the company's properties in Louisiana and Mississippi have already reopened. Properties in other states are slated to open up in the coming weeks. But despite this positive development, there is some "bad" to consider with this stock.Namely, that gaming revenues won't return to normal for quite some time. With social distancing rules limiting the number of players on the casino floor, it's tough to expect revenues to rebound back to levels seen pre-pandemic.And now, the ugly - by which I mean the company's "asset-light strategy." I discussed this in more detail in my last write-up. In short, I'm talking about the company's love of sale-leaseback deals instead of owning casino real estate outright.While this may have been a smart strategy during boom times, it leaves them more vulnerable during a downturn. However, thanks to a recent convertible debt offering, liquidity may be less of an issue than it was in recent months.Also, there's the company's Barstool investment to consider. Investors may be excited how. But it could be more hype than game-changer. Could Barstool Deal Fuel Massive Upside?It's not just the specter of reopening that's driving PENN stock higher. It's the Barstool Sports connection as well. Back in January, the company spent $163 million for a 36% stake in the sports podcasting juggernaut. As part of the deal, the company has the option to increase its stake up to 50% within three years.Why is Penn making such a big bet on Barstool? It isn't for the podcasts. It's for potential synergies with the company's sports betting operations. As our own Matt McCall discussed earlier this month, the sports betting legalization trend is a big opportunity for Penn National.Yet, with big opportunity comes massive competition. Companies like DraftKings (NASDAQ:DKNG) and Flutter Entertainment's Fanduel (OTCMKTS:PDYPY) already have first-mover advantage. Buying Barstool may give Penn instant access to a pool of millennial-aged, sports-obsessed potential customers. But will that be enough to give them an edge?Only time will tell. Also, will novel coronavirus mean a delay or cancellation of popular sports this fall? The NFL season is set to start on time. But the NBA, along with college football, remain up in the air.Investors have bid up the company's shares in anticipation of massive success for their sportsbook. In light of uncertainty, this appears to be too much, too soon. Bottom Line: Steer Clear of PENN StockPenn National offers investors an interesting mix. Firstly, it's a solid regional casino play. As states allow gaming facilities to reopen, shares could move higher as gamblers return to the table. Also, the company can be seen a strong sports betting play, thanks to their budding sportsbook operations, along with the Barstool partnership.Yet, all of these positives are likely priced into shares. Until shares take a breather, skip out on PENN stock, and consider other casino stocks out there.Thomas Niel, contributor to InvestorPlace, has written single-stock analysis since 2016. As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post Despite Catalysts, Penn Stock Remains a Sell appeared first on InvestorPlace.
More than 1,500 stocks have at least doubled since bottoming out in the last two months. Let's look at a few that should keep moving higher.
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Barclays today announces the appointment of Alex Lynch to the role of Chairman of Banking within its Investment Bank. Mr. Lynch will be based in New York and report to Joe McGrath, Global Head of Banking.
Closing the books on a humbling fiscal year, Canopy Growth, the cannabis industry leader, disclosed a loss of 1.3 billion Canadian dollars, but promises better times ahead.
Barclays PLC has hired Alex Lynch as the chairman of banking within its investment bank, a statement from the British lender said on Friday. Lynch was previously a partner at private equity firm White Deer Energy, and before that worked at JPMorgan Chase & Co , where he held titles including chairman of mergers and acquisitions in North America and global chairman of the financial institutions group. Based in New York, Lynch will be focused on developing Barclays' relationships both with financial institutions and also industries which closely overlap financial services.
Shares of data analytics firm Datadog (NASDAQ: DDOG) have surged nearly 150% since their IPO last autumn. As a leader in cloud-based software for managing big data and cloud operations, Datadog has a bright future, although much of that future has been priced into its shares at this point. According to tech researcher Gartner, spending on IT operations management is expected to reach $37 billion by 2023.
DraftKings' (NASDAQ:DKNG) powerful, positive catalysts should push DraftKings stock much higher in both the shorter and longer term.Source: Lori Butcher/Shutterstock.com In the shorter term, the company, which is one-half of a duopoly in the fantasy sports sector, should benefit tremendously from the return of all three major American professional sports leagues at around the same time.Specifically, major league baseball looks poised to launch a shortened season in July, while the NBA is likely to resume its season soon and the NFL will probably start its season on time at the beginning of September.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAfter fantasy sports fanatics will have spent several months without any teams to manage, many of them will run to join three or four leagues at once in the third quarter. * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure As a result, in October DraftKings should report blowout Q3 results that will likely propel DraftKings stock much higher. The trend should continue in Q4, when the NFL's playoffs occur and the NBA's season resumes. Positive Catalysts for DraftKings StockOver the longer term, sports betting will tremendously lift DraftKings' results and DraftKings stock. The company recently launched sports betting in Iowa and Colorado.According to DraftKings CEO Jason Robins, multiple states, including Virginia, Michigan, Tennessee, and Illinois have legalized sports betting "over the past year or so and are in the process of working towards launching" sports betting within their borders.Robins made this comment during the company's first-quarter earnings conference call on May 15.Further, "approximately 14 states are actively considering sports betting legislation," Robins reported.Hundreds of millions of Americans love professional sports and tens of millions of Americans love betting. Consequently, I think that online sports betting in the U.S. will become huge within a year or two as many more states legalize it and many more consumers realize that it has become legal.Additionally, in the wake of the coronavirus pandemic, many states are facing huge budget deficits and will need to find new revenue sources that they can use to plug the gaps. Since legalized online sports betting can produce a great deal of revenue for states, I expect to see many states legalizing the practice and even promoting it over the next year.Given DraftKings' strong first-mover advantage in online sports betting and its high name recognition among avid sports fans, DraftKings stock should benefit tremendously from this trend.Meanwhile, in both the short-term and the longer term, DraftKings should be lifted by the growth of online betting on traditional casino games. DraftKings refers to such betting as "iGaming." Quarterly ResultsIn Q1, iGaming delivered "strong results," DraftKings reported. Further, after professional sports shut down in the U.S., the company's iGaming offerings became more popular as sports betting fans increasingly turned to online casino games, DraftKings CFO Jason Park reported.That trend likely continued during Q2, since all major sports leagues have remained closed this quarter. Additionally, DraftKings' iGaming business was likely boosted in Q2 by the fact that brick-and-mortar casinos in the U.S. were forced to shut their doors during the quarter.And even though brick-and-mortar casinos are starting to reopen now, many Americans will likely prefer to gamble online due to their fears of the coronavirus. Finally, as with sports betting, many states are likely to legalize iGaming in order to raise revenue. And once again, DraftKings should benefit from its status as a first-mover in the space.Moreover, DraftKings can eventually bring both sports betting and iGaming to other countries. Such an expansion should greatly boost DraftKing's results and its stock. The Bottom Line on DraftKings StockThe return of professional sports and the strong popularity of iGaming will boost the shares further in the shorter term. Over the next year or two, the company's many powerful, positive catalysts should enable the stock to at least double from its current levels.Larry Ramer has conducted research and written articles on U.S. stocks for 13 years. He has been employed by The Fly and Israel's largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been Lyft, solar stocks, and Snap. You can reach him on StockTwits at @larryramer. As of this writing, he did not own any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post DraftKings Stock Will Keep Benefitting from Multiple Strong Trends appeared first on InvestorPlace.
Muni bonds are on their way to record the best month since 2009. These ETFs won the most past month.