Best Stocks To Buy This Week? 4 Reopening Stocks To Know

Best Stocks To Buy This Week? 4 Reopening Stocks To Know



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This story originally appeared on StockMarket

Top Reopening Stocks To Watch This Week

As the economy continues to reopen, it stands to reason that reopening stocks could continue to flourish. Accordingly, it would not surprise me to see investors looking for the top reopening stocks on the stock market today. For investors focusing on mid to long-term gains, reopening plays may be the way to go.

When it comes to reopening stocks, investors seem to be spoilt for choice at the moment. On one hand, industrial players such as Trane Technologies (NYSE: TT) and Amerco (NASDAQ: UHAL) continue to rise. This would be the case as the manufacturing and logistics industries gain momentum on improving pandemic conditions. As it stands, both companies’ stocks have already doubled in value over the past year. On the other hand, key names in the tourism industry such as Expedia Group (NASDAQ: EXPE) and TripAdvisor (NASDAQ: TRIP) are on the uptrend as well. Understandably, this would be thanks to a highly anticipated surge in consumer traveling post-pandemic.

By and large, it would make sense that reopening plays are among the most active stocks on the stock market now. Investors looking to bet on the economy recovering would likely want to add the best-reopening stocks to their portfolios. If you are among said investors, here are four names to know.

Top Streaming Stocks To Buy [Or Sell] Now

MGM Resorts International

MGM is a global hospitality and entertainment company that operates destination results. It is an S&P 500 company with national and international locations featuring best-in-class hotels and casinos. It also has state-of-the-art conference spaces and an extensive array of restaurants and retail offerings. MGM is also pursuing targeted expansions in Asia through the integrated resort opportunity in Japan. MGM stock currently trades at $41.59 as of 2:33 p.m. ET and has enjoyed year-to-date gains of over 35% so far. Last week, the company along with Entain provided a business update for BetMGM. BetMGM is a leading sports betting and iGaming operator in the U.S.

Source: TD Ameritrade TOS

Given the strong momentum and future expectations surrounding BetMGM, it is no surprise that it is the number one market leader across the U.S. in iGaming. Impressively, it has a market share of 23% over the three months that ended in February 2021. The sports betting and iGaming sector also continue to accelerate across North America. This would give the company a total long-term addressable market in the U.S. and Canada to be approximately $32 billion. With that in mind, will you consider MGM stock as a top reopening stock to buy?

[Read More] 4 Streaming Stocks To Watch In April

Delta Air Lines

Delta is a global airline leader in reliability and customer experience. The company is one of the largest airlines by revenue in the world and is a legacy carrier. Before the pandemic, the airline along with its subsidiaries operates over 5,400 flights daily and serves 325 destinations in 52 countries. DAL stock currently trades at $46.37 as of 2:34 p.m. ET and has doubled in the last year itself. Last month, the company announced its March quarter 2021 financial results. In detail, the company reported a total revenue of $4.2 billion for the quarter. It also reported that there has been an acceleration in demand as economies start to reopen. This would be a milestone in Delta’s recovery as well.

best reopening stocks to buy (DAL stock)
Source: TD Ameritrade TOS

A year after the onset of the pandemic, travelers are gaining confidence and beginning to reclaim their lives. Delta is accelerating into the recovery with our brand stronger and more trusted than ever before,” said Ed Bastian, Delta’s chief executive officer.  “Thanks to the incredible efforts of our people, we achieved positive daily cash generation in the month of March, a remarkable accomplishment considering our middle seat block and the low level of demand for business and international travel. If recovery trends hold, we expect positive cash generation for the June quarter and see a path to return to profitability in the September quarter as the demand recovery progresses.” Given this piece of news, will you consider buying DAL stock?

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General Electric Company

General Electric (GE) is a multinational conglomerate that is headquartered in Boston. The company operates in many segments. Notably, this would include aviation, power, and additive manufacturing to name a few. It is a Fortune 500 company and is ranked as the 33rd largest firm in the U.S. by gross revenue. GE stock currently trades at $13.63 as of 2:34 p.m. ET and has doubled in valuation in the last year as well. Last month, the company gave a detailed update for its 2021 outlook.

top reopening stocks (GE Stock)
Source: TD Ameritrade TOS

It expects a positive trajectory in 2021 as momentum builds across its business segments. The company has built a strong foundation to drive improvements throughout GE. In addition to that, it has been scaling lean and shifting decision-making closer to its customers to help better execute its growth strategy. The company will also be reporting its first quarter of 2021 tomorrow. With that being said, will you consider adding GE stock to your portfolio?

[Read More] Arrival Vs Lucid Motors: Which Of These Electric Vehicle Stocks Is A Better Buy?

Lovesac Company

Following that is furniture retailer Lovesac. In brief, the company specializes in producing and marketing its patented modular furniture systems, known as Sactionals. Basically, Sactionals consist of two key combinable components that can be rearranged to fit living spaces of varying sizes. For one thing, Sactionals offer consumers more versatility when decorating their homes. Sure, the company’s focus on e-commerce has helped it thrive throughout the current pandemic with homeowners investing in furniture.

best reopening stocks (LOVE stock)
Source: TD Ameritrade TOS

Additionally, Lovesac’s 91 retail showrooms also stand to benefit from increased foot traffic post-pandemic. Given all of this, I can understand if investors are eyeing LOVE stock right now. In fact, the company’s shares have skyrocketed by over 530% over the past year.

Looking at its recent quarter fiscal posted earlier this month, LOVE stock’s performance makes sense. After all, the company had a record quarter, bringing in net sales of over $129 million, a 40% year-over-year increase. CEO Shawn Nelson cited Lovesac’s “strong fiscal 2021 financial and operational performance” as a key factor to its current momentum. Meanwhile, Oppenheimer (NYSE: OPY) analyst Brian Nagel reiterated a buy rating on LOVE stock, raising his price target from $60 to $85. Moving forward, Nagel believes that Lovesac could be looking at “continued outsized top and bottom-line expansion in 2022 and beyond”. Should this be the case, would you consider LOVE stock worth investing in now?



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