4 Reopening Stocks To Watch Next Week

Do You Have These Top Reopening Stocks On Your Watchlist This Month?

Reopening stocks seem to be the name of the game now. As you’d expect these are stocks that would benefit from the broader economic recovery in a post-pandemic world. Take Tripadvisor (NASDAQ: TRIP) and Disney (NYSE: DIS) for instance. Both companies would stand to benefit from the eventual tourism boom when traveling is allowed again. Firstly, TRIP stock has been on a tear, gaining by over 270% over the past year. This is despite operations taking a beating from the current pandemic. At the same time, DIS stock continues soaring towards new heights thanks to its current streaming service. Coupled with its core theme park services gradually reopening, some could see the company come back stronger than ever. Could now be the time to bet on reopening stocks?

Well, CNBC’s Mad Money host Jim Cramer seems to believe so. Back in late February, Cramer suggested that it is “not too late to bet big” on top reopening stocks. For the most part, you could argue the same. With the current pace of COVID-19 vaccinations, the Biden administration estimates that the U.S. could achieve herd immunity by fall. When that time comes, some of the best-reopening stocks to buy could continue to flourish. If all this has you eager to jump on the reopening stock train, here are four to add to your watchlist.

4 Top Reopening Stocks To Watch NowLyft Inc.

Right off the bat, we have ridesharing company, Lyft. In brief, the company develops, markets, and operates an app that offers vehicles for hire. Aside from that, Lyft also has motorized scooters and bicycle-sharing systems, along with food delivery services. When the pandemic initially hit, the company’s core ride-hailing business was virtually halted. Over a year later, investors appear to be watching LYFT stock closely amidst improving pandemic conditions. Evidently, LYFT stock is currently looking at year-to-date gains of over 35%, outpacing rival company Uber (NYSE: UBER). With the company’s latest announcement yesterday, I could see this lead extend.

best reopening stocks (LYFT stock)Source: TDA

Namely, Lyft announced that last week was its best in terms of rider volume since the lockdowns began a year ago. Additionally, the company posted positive year-over-year growth in its daily ride-hailing volume for the first time in a year earlier this week. This comes as no surprise seeing as more people are getting vaccinated and feel more comfortable traveling.

Moving forward, Lyft seems confident estimating that this uptrend will continue through the end of 2021. The company expects ride-hailing volume to surge by over 100% year-over-year as it “laps the significant impact of COVID-19”. Given all of this, could now be the time to watch LYFT stock? I’ll let you decide.

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Under Armour Inc.

Following that, we have sports equipment retailer, Under Armour. The Maryland-based company is a leading designer and distributor of branded athletic performance apparel, footwear, and accessories. Despite its main brick-and-mortar operations being halted throughout the earlier phases of the pandemic, Under Armour remains resilient. Accordingly, this is clear in its recent quarter fiscal posted last month. The company posted a total revenue of $1.4 billion for the quarter, just 3% down from year-ago figures. More importantly, UAA stock has more than doubled in value over the past six months. With lockdown measures easing up, more consumers could turn to Under Armour for their sports attire needs. Could this make UAA stock worth investing in?

reopening stocks to buy now (UAA stock)Source: TDA

For one thing, Wells Fargo (NYSE: WF) analyst Tom Nikic seems to think so. On Monday, the analyst reiterated an Overweight rating on UAA stock with a price target of $30. This would mark a 27% upside over UAA stock which is trading at $23.43 a share as of Friday’s closing bell.

Generally, Nikic suggests that now is the time to be confident about Under Armour’s “compelling turnaround story”. He goes on to cite the company’s strategy of focusing on serious athletes as a key growth driver. In that sense, having world-class athletes as brand partners would help with marketing. To this end, do you feel the same about UAA stock?

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Airbnb Inc.

Airbnb is another top reopening stock that is on investors’ radars now. Indeed, travelers around the globe would be familiar with its online travel marketplace. On the said marketplace, users can browse for or put up homestays for vacation rental purposes. Additionally, hosts can also set up local experiences on the Airbnb app. Most would agree that 2020 was not a good year for Airbnb. Nonetheless, ABNB stock was one of the hottest IPOs of the year. The company’s shares skyrocketed to $146 a share after an initial pricing of $68. Now, ABNB stock is looking at sizable gains of over 38% year-to-date. Given its latest moves this week, Airbnb does not seem to be slowing down.

top reopening stocks (ABNB stock)Source: TDA

For starters, CEO Brian Chesky said in a Bloomberg interview that indications are pointing towards a big rebound in travel. Chesky followed up by saying that Airbnb is preparing for it. In turn, the company announced two new partnerships with local tourism bodies yesterday.

Specifically, Airbnb is now partnering with VISIT FLORIDA and Visit Raleigh. Both campaigns will involve the creation of a “dedicated landing page” in the Airbnb app. These pages will highlight the best tourist experiences in their respective states. One thing is clear, Airbnb is prepping for the eventual influx of tourists. In light of this, will you be adding ABNB stock to your watchlist?

[Read More] Top Tech Stocks To Buy Right Now? 4 Names In Focus

Ollie’s Bargain Outlet Holdings Inc.

Topping off our list is Ollie’s Bargain Outlet. As the name suggests, the company operates a chain of discount retail stores. Ollie’s offers a wide array of brand-name products ranging from housewares, daily essentials, and even toys. Notably, the company operates across 25 states, catering to discount shoppers. This would be a good market to be in now given the recent rise in jobless claims last week. Meanwhile, OLLI stock is making waves now thanks to Ollie’s recent financial release.

reopening stocks to buy now (OLLI stock)Source: TDA

Diving right into it, the company beat Wall Street estimates in terms of earnings per share and quarterly revenue. In detail, Ollie’s posted an earnings per share of $0.98 on revenue of $515.8 million. This added up to year-over-year gains of 27% and 22% respectively. Overall, CEO John Swygert summed it up as a record fourth quarter, capping off the best fiscal year for Ollie’s. Swygert cites the company’s expertise and relations in the closeout industry as a key factor of Ollie’s performance this quarter.

Because of this, the company was able to secure the best deals for its customers amidst the pandemic. Now, Ollie’s seems confident about keeping up its momentum, announcing a $100 million increase to its share buyback program. Could OLLI stock continue to flourish this year? You tell me.

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