Consumers Still Love Experiences – Invest Accordingly

The economy may be showing some signs of a slowdown, but consumers continue to break out their wallets for unique and memorable experiences. That’s in contrast to the pandemic, which featured a focus on buying needed or wanted goods.

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  • Consequently, investors likely still have upside as long as consumers are looking to spend on experiences. That can include anything from travel to catching a tour, to enjoying live sports.

    Related experiences, such as gambling on sports, also remain popular. That’s helped PENN Entertainment (PENN) nab an upgrade now. Besides owning online sports betting, they own casino and resort properties as well.

    PENN has seen flat revenues over the past year, and isn’t profitable right now, but a rise in sports betting trade and volume could push the company into profitability.

    Action to take: Shares trade right at book value, potentially undervaluing the company’s resort properties and future value from online sports betting. PENN is a speculative buy for the current market rally, and may be able to trend higher through the new year.

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  • For traders, the April 2024 $30 calls, last going for about $2.10, could see mid-to-high double-digit returns on a further rally in shares. Traders could buy multiple options, and scale out following further big daily jumps higher in the share price.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.