With the 2024 NFL season now underway, buy gambling stocks.
After all, according to the American Gaming Association, Americans are expected to spend about $35 billion on NFL games this year. That’s up from the $26.7 billion wagered a year ago.
As noted by CBS Sports, “The NFL remains king, and more money is wagered on the NFL than any other league. The NFL also attracts six-figure wages (and sometimes seven-figure wagers) on a regular basis throughout the season.”
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That being said, investors may want to place bets on stocks such as: Analysts at Needham recently reiterated a buy rating on DKNG and said it’s in a strong position to benefit in the online sports betting market. Analysts at Macquarie also named KDNG as a top online stock to own during the NFL season “because it is most exposed to near-term upside from favorable NFL game outcomes, higher structural hold and general online sports betting/iGaming growth momentum,” as noted by Seeking Alpha. Three, in August, the company announced a $1 billion buyback program. And four, in its last earnings report, DKNG boosted its fiscal year 2024 revenue guidance to a range of $5.05 billion to $5.25 billion from a prior range of $4.8 billion to $5 billion. Technically oversold at $38.44, we’d like to see DKNG retest $42 near term. |
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Mode Mobile
32,481% Growth? Meet Mode Mobile's EarnPhone Company: Flutter Entertainment (SYM: FLUT) Flutter Entertainment is pushing aggressively higher after Wells Fargo upgraded the stock to an overweight rating. The firm said investors should consider the stock after a recent pullback. Last trading at $228.43, the stock appears to have caught strong support and is just starting to pivot higher again. We’d like to see a near term retest of $252.84. Helping, the company recently authorized a $5 billion stock buyback program.
Crypto 101
Don’t tell ANYONE about this altcoin (until it pops)…
Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this “DeFi 2.0” powerhouse might soar 10x... 50x... perhaps even 100x.
That's why it's our top altcoin pick!
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ETF: Sports Betting & iGaming ETF (SYM: BETZ) Or, if you want to diversify at a lower cost, there’s the Sports Betting & iGaming ETF (BETZ). With an expense ratio of 0.75%, the ETF tracks the performance of the Morningstar Sports Betting & iGaming Select Index. Some of the top holdings in the ETF include Flutter Entertainment, DraftKings, Entain, Churchill Downs and Evolution. |
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NetPicks
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