Everyone has their eyes intensely focused on the stock market right now. Over the course of the last 6-9 months, stock prices have been absolutely soaring in certain sectors. From the investing and trading platform Robinhood to DKNG, which is known for having many welcome bonuses and no deposit casino offers. So, for those that like to follow trends and stay informed, here are some stocks that are worth keeping an eye on over the remainder of the year and into 2023.
Virgin Galactic Holdings Inc. (SPCE)
Virgin is a company that seemingly has its hands in everything nowadays. Their Virgin Galactic division is dedicated to space flight with the goal of bringing tourists into space. This past May, the company completed their first human spaceflight. It was launched from New Mexico and it was said to have reached a speed of Mach 3 before eventually leaving Earth and ultimately landing at Spaceport America.
The stock price currently sits around $31 with an all-time high of $55. For investors, there is lots of promising news and potential here for the long term. While actual commercial space flights for paying customers may seem like it’s a way off, the company inches closer every day. Recently, Virgin Galactic released their interior cabin design and collaboration with NASA on aeronautics research.
Sports betting is on its way to becoming a major industry in the US and likely Canada as well. Recent years have been very kind to the sports betting market after a wave of positive legalization has spread across the US. For investors, now is a good time to start considering stocks for these sportsbooks.
For instance, DraftKings launched its IPO in 2019 with an initial price of $10. The stock currently sits at around $50. DraftKings have a different kinds of free offers. This ensures that they will always be in mind for gaming players that are reviewing their options.
This model has served the company well, and this is reflected in its stock price. As more and more states jump aboard this new industry, it’s likely that the best days are still ahead for this company and other sportsbooks.
Cruise Lines (CCL, RCL, NCLH)
The cruise line industry took a major downturn during 2020 as more people opted to stay home and skip their vacations. Major stocks like Carnival Corporation (CCL), Royal Caribbean Group (RCL), and Norwegian Cruise Line Holdings Ltd. (NCLH) took a major plummet as a result. However, we can’t help but imagine what Warren Buffett must think with his “look for undervalued and fundamentally sound companies” approach to stock investing.
Though these companies were hemorrhaging funds during this downturn, fundamentally they were still the same company they were years prior. This meant that a rebound rally was likely, and thus far that is exactly what we’ve seen. For example, CCL dipped below $10 in early 2020 but has since reached over $30. Major analysts believe that this rally is likely to continue and even a full retrace to pre-2020 levels is possible.
The stock trading and investing platform Robinhood is the latest high-profile company to tease an IPO. Robinhood first built its reputation on the promise of a zero-fee trading platform for stocks. This was enticing for many people and they quickly built up a large user base of clients from all over the world. Today, the average estimated revenue for the company is over $300 million a year.
When Robinhood decides to finally take its company public, this will be a great opportunity for investors. Robinhood filed for a confidential initial public offering this past March. A confidential IPO means that they only need to announce the IPO 15 days before it is set to launch. Therefore, you can expect the date to be closely guarded, and currently no date or expected price range is known. However, a 2021 IPO seems all but certain for the company, and this is definitely one stock you will want to keep your eye on for the future.