6 Stocks Going For Gold During 2024 Summer Olympics: 'Biggest Event' In Company History
Portfolio Pulse from Chris Katje
The 2024 Summer Olympics in Paris could boost the financials and interest in six companies: Comcast Corporation (CMCSA), Airbnb Inc (ABNB), Anheuser-Busch InBev (BUD), Genius Sports (GENI), DraftKings Inc (DKNG), and Flutter Entertainment (FLUT). These companies are leveraging the event through media rights, travel accommodations, sponsorships, sports betting data, and increased betting activity.
July 26, 2024 | 4:48 pm
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POSITIVE IMPACT
Airbnb is expected to benefit from increased bookings in the Paris region during the Olympics, with a significant rise in listings and nights booked.
Airbnb's increased listings and bookings in Paris during the Olympics highlight its role in accommodating visitors, boosting its financials.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Anheuser-Busch InBev could see a boost from its sponsorship of Team USA and promotion of its Michelob Ultra and Corona Cero brands during the Olympics.
Sponsorship of Team USA and promotion of fast-growing beer brands during the Olympics could enhance brand visibility and sales.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Comcast Corporation, through its Peacock streaming platform and NBC network coverage, is expected to see increased subscriptions and viewership during the 2024 Summer Olympics.
Comcast holds the media rights to the Olympics and will stream all events on Peacock, potentially increasing subscriptions and viewership.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
DraftKings could see increased betting activity during the Olympics, driven by the popularity of events and the smaller time difference between Paris and the U.S.
The increased number of states offering legal sports betting and the popularity of Olympic events could drive higher betting activity on DraftKings' platform.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Flutter Entertainment is likely to benefit from increased betting on Olympic events, with more states offering legal sports betting compared to the previous Olympics.
The expansion of legal sports betting in the U.S. and the popularity of Olympic events could boost betting activity on Flutter's platform.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Genius Sports could see increased usage of its sports betting data and new Trend Genius platform during the Olympics, enhancing its market presence.
The Olympics provide an opportunity for Genius Sports to showcase its data services and new platform, potentially increasing its market presence.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70