2 Entertainment Stocks for Your Watchlist at the End of October 2023

The entertainment sector is a vast and diverse arena that encompasses everything from movies and music to books and live performances. At its core, this sector thrives on engaging the audience’s attention and imagination, creating moments of joy, reflection and connection. As technology evolves, so do the ways in which we engage in entertainment. Digital platforms and streaming services now play a significant role in how we consume content.

Shares in entertainment companies, or entertainment stocks, offer investors a chance to benefit from our continued pursuit of recreation and entertainment. Revenue for these companies often comes from our discretionary spending. This makes the sector a reflection of our cultural and entertainment preferences. However, the nature of the entertainment world means that its success can often depend on the popularity of a particular film, show or artist, leading to potential fluctuations in earnings.

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

Entertainment stocks to buy [Or Avoid] Now

The Walt Disney Company (DIS Stock)

first, The Walt Disney Company (DIS) is a diversified multinational entertainment conglomerate known for its broad array of media networks, theme parks, movie studios and merchandising operations. 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 the Spectrum lineup and brings together both classic broadcasting and modern streaming services. Of note, some Spectrum TV packages will now include Disney+ Basic and ESPN+. In addition, Disney’s Direct-To-Consumer platforms will be available to Internet-only Charter subscribers.

In the last month of trading, DIS shares gained 1.72%. Meanwhile, as of Friday’s final bell, Walt Disney shares closed modestly lower, down 0.72% at $82.65 a share.

Source: TD Ameritrade TOS

[Read More] 3 Defense Stocks for Your October 2023 Watch List

Roblox (RBLX stock)

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

Earlier this month, Roblox said it will release its third quarter 2023 financial results before the US markets open on Wednesday, November 8, 2023. The company also plans to hold a conference call on the same day to address of inquiries related to its financial results.

Looking at the last month of trading action, shares of Roblox stock advanced a whopping 25.05%. As of Friday’s close, RBLX stock was trading at $31.75 per share.

Shares of RBLX
Source: TD Ameritrade TOS

If you enjoyed this article and are interested in learning how to trade for the best chance of winning consistently, then you should check out this YouTube channel. CLICK HERE RIGHT NOW!!

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

Leave a Comment

Your email address will not be published. Required fields are marked *