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- Sports Betting Stocks Outlook
Sports Betting Stocks Outlook
Today is Monday, October 10, 2022.
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Sports Betting Stocks Outlook
Jeffrey Kamys, the investment strategist for the iBet ETF (exchange-traded fund), is still bullish on sports betting stocks in 2022. He explains why in a new episode of the Early Bird podcast.
Current State: While customer acquisition costs for many sports betting companies are still adding up, Kamys says there is a lot to be excited about. More states could legalize sports betting, which means revenues in the sector will eventually grow.
Short Stay: Kamys is also bullish about the reopening of Macau. Along with Las Vegas being packed, this should create additional revenue that could be good for the earnings of sports betting stocks in the short term.
Value: While there’s a perception that most sports betting stocks are losing money and are overvalued, that’s not universal. Kamys points to Boyd Gaming (NYSE: BYD), which has a low price-to-earnings ratio. Also, VICI Properties (NYSE: VICI), which owns the casinos, offers a dividend for investors looking for income.
Final Thoughts: What is Kamy’s outlook for sports betting stocks for the remainder of the year, especially if there’s a recession? Find out by listening to a new episode of the Early Bird podcast.
Notable Earnings Today: N/A.
Notable IPOs Today: Vox Royalty Corp. Common Stock (Nasdaq: VOXR).
Notable Equity Crowdfunding Campaigns Ending Today: Style Bar (SMBX), GoSun (StartEngine).
Notable Economic Events Today: N/A.
How Correlated Are Cryptocurrency And Stocks?
Photo by Kanchanara / Unsplash
All Together: Both stocks and cryptocurrency are impacted by monetary policies (such as the Federal Reserve raising interest rates) and economic data (such as the unemployment data last week).
Technically True: In particular, there’s been a strong correlation this year between crypto prices and technology stocks. Investors may see both assets as risky this year.
Not So Fast: That correlation might be evaporating. Bitcoin outperformed the stock market in September.
Final Thoughts: This correlation between stocks and crypto likely won’t go entirely away until the Fed stops raising interest rates.
Can Blockchain Change Equity Crowdfunding?
Dacxi Chain, the world’s first blockchain-based equity crowdfunding network, launched last week.
Definition: Blockchain is an immutable, decentralized ledger of transactions on a network.
Details: Daxci Chain is different than other equity crowdfunding platforms by creating digital tokenized versions of company shares that can be bought and sold.
Cryptocurrency: There’s also a crypto element. The Dacxi Chain is powered by the Dacxi Coim. It is a utility token and not a security.
Final Thoughts: Will blockchain will really change equity crowdfunding for investors? Well, 2022 is already on pace for a record year of equity crowdfunding investments. Thus, why is blockchain needed?
Trends to Watch
Acceptance: How to Make Peace With Your Stock Market Losses (The Wall Street Journal)
USA: Why the US is one of the most crypto-friendly countries in the world (Cointelegraph)
More Rate Hikes Coming: September job gains affirm that the Fed has a long way to go in inflation fight (CNBC)
Oil the Problems in the World: OPEC+ oil output cut shows widening rift between Biden and Saudi royals (Reuters)
Key Lessons: 9 Things Meme Stock Investors Got Right About Becoming Millionaires (InvestorPlace)
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