2 entertainment stocks for your watchlist at the end of October 2023

The entertainment sector is a vast and diverse field, encompassing everything from films and music to books and live performances. At its core, this sector is about capturing audiences’ attention and imagination, creating moments of joy, reflection and connection. As technology has evolved, so has the way we engage with entertainment. Digital platforms and streaming services now play an important role in the way we consume content.

Shares in entertainment companies or entertainment stocks offer investors the opportunity to benefit from our continued pursuit of leisure and entertainment. These companies’ revenue often comes from our discretionary spending. The sector therefore reflects our cultural and leisure preferences. However, the nature of the entertainment world means that its success often depends on the popularity of a particular film, show or artist, which can lead to potential fluctuations in profits.

When considering investing in entertainment stocks, it’s important to recognize the unique mix of creativity and commerce in this sector. While there is certainly the potential for impressive returns, the industry’s ever-changing landscape can also bring with it a degree of unpredictability. Therefore, potential investors should stay informed about the latest trends, new technologies and changes in audience preferences in order to successfully navigate the entertainment stock market. With that in mind, here are two entertainment stocks to watch in the stock market today.

Entertainment stocks to buy [Or Avoid] Now

Walt Disney Company (DIS Stock)

First, The Walt Disney Company (DIS) is a diversified multinational entertainment conglomerate known for its extensive offering of media networks, theme parks, film studios and merchandising companies. The company’s portfolio includes iconic brands such as Pixar, Marvel, Lucasfilm and 21st Century Fox.

In September, The Walt Disney Company announced a new multi-year distribution deal with Charter Communications. This deal ensures the return of Disney channels to Spectrum’s spectrum and combines both classic broadcast and modern streaming services. Notably, certain Spectrum TV packages will now include Disney+ Basic and ESPN+. Additionally, Disney’s direct-to-consumer platforms will be accessible to Charter’s internet-only subscribers.

In the last month of trading, shares of DIS stock rose 1.72%. Meanwhile, Walt Disney stock closed slightly lower by 0.72% at $82.65 per share at the closing bell last Friday.

Source: TD Ameritrade TOS

[Read More] 3 Defense Stocks for Your Watchlist in October 2023

Roblox (RBLX Stock)

Next, Roblox Corporation (RBLX) operates an online platform that allows users to design, create and play games created by community members. The platform serves millions of users worldwide and offers not only gaming experiences but also tools and an ecosystem for developers and creators to monetize their creations.

Earlier this month, Roblox reported that it will report its third quarter 2023 financial results before the opening of US markets on Wednesday, November 8, 2023. In addition, the Company plans to hold a conference call on the same day to respond to inquiries related to its financial performance.

Looking at the last month of trading, shares of Roblox stock are up a whopping 25.05%. While RBLX stock is trading at $31.75 per share as of Friday’s closing bell.

RBLX stock
Source: TD Ameritrade TOS

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