Welcome to another week in trading! June is #GreatOutdoorsMonth and today we’re looking at top outdoor adventure stocks to trade in 2021. We’ll also let you know which events to watch this week.
The outdoor stocks to trade right now
The outdoor recreation sector is one of the few that remained relatively buoyant throughout government mandated lockdowns. This was mainly because restrictions mostly applied to indoor events and major outdoor gatherings; more individual pursuits, such as hiking, camping, or biking were permitted.
The outdoor recreation sector is booming. Here are 4 stocks to watch right now.
#1 Go Pro Inc (GPRO)
One of the stellar performers of 2021 so far, GPRO stock closed on Friday at 11.04 USD per share, up 36.46% from the start of 2021.
The interesting factor is that there isn’t really any fundamental news driving this rise right now. Is it purely circumstantial? Warm weather + declining covid cases = high demand for Go Pro products?
Has GPRO exceeded its potential already? Given that this rise isn’t backed by any concrete news, we’d set our status to ‘cautious’ on this one.
#2 Garmin (GRMN)
Contrary to our opening paragraph, Garmin did struggle a bit during Q2 last year, but it’s come out fighting pretty hard ever since, as interest in outdoor activities and exercise emerged as popular trends.
Garmin also introduced new products related to boating and recreational vehicles (RVs).
Stock price has risen a very healthy 20.9% this year. The company’s burgeoning product portfolio makes GRMN a very interesting stock. One to watch, for sure!
#3 Winnebago (WGO)
Winnebago manufactures and sells RVs and marine products. A massive spike in demand (their backlog grew 313% last year) has caused WGO stock to rise exponentially since around November last year.
Company stock has seen a healthy 16.6% rise in value so far this year and the company certainly thinks the RV trend is here to stay. If they’re right, WGO should be right on your list of tradeables. Who wouldn't want to pack up and go adventuring right now?
#4 Thor Industries (THO)
Another major RV manufacturer, Thor stock (THO) has had a similar experience to Winnebago over the last year, jumping over 25% in 2021 alone.
Priced a little higher than WGO, THO stocks have the benefit of offering almost double the yield vs. their competitor.
The short-term signals are very tempting, but time will tell if investors are right to back these RV companies over the long term.
What’s on the trading agenda this week?
Here’s everything you need to keep track of this week.
No major events scheduled.
● JPY — GDP Growth Annualised Final (Q1)
● EUR — GDP Growth Rate QoQ 3rd Est (Q1); GDP Growth Rate YoY 3rd Est (Q1)
● CAD — Balance of Trade (APR)
● AUD — Westpac Consumer Confidence Index (JUN)
● CNY — Inflation Rate YoY (MAY)
● CAD — Inflation Rate YoY (MAY)
● CNY — New Yuan Loans (MAY)
● EUR — ECB Interest Rate Decision;
● USD — Core Inflation Rate YoY (MAY); Inflation Rate YoY (MAY)
● GBP — GDP 3-Month Avg (APR); GDP YoY (APR)
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The Contentworks team