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Camping World Holdings Inc (NYSE:CWH) stock has shot up more than 35% in the past month, closing Friday up 15% at $30.23.
What Happened? Camping World has been a bumpy ride since going public in 2016. After peaking at just over $46 in October 2017, it’s been dropping since.
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At the start of 2020, the stock was trading at $13 but dropped to as low as $2.93 in March. The company's first-quarter earnings showed a decrease in revenue but an increase in gross profit. Since March, the stock has been steadily rising in large part due to other forms of transportation being limited or shut down entirely.
Camping World also owns Good Sam Travel Club, which provides discounts to various things associated with camping trips such as propane and gas discounts.
See Also: 3 Outdoor Stocks To Watch For Summer 2020
Why It’s Important: With airlines cutting flights amid COVID-19 fears, an RV trip seems like a safe way to go. This has been welcome news to RV makers including Winnebago Industries, Inc. (NYSE:WGO) and Thor Industries, Inc. (NYES:THO). Camping World sold over 11,000 RVs in June alone, topping total sales for all of 2019.
With Camping World owning a travel club, it can also get those that purchase new units to also buy into their camping club and can even stay at its Good Sam licensed Parks.
What’s Next? Camping World has been extremely aggressive with acquisitions in the past years, including Gander Mountain and Rock Creek Outfitters, while having no issue shutting down locations within their portfolio that are unprofitable. With more Americans turning to camp for this summer's go-to vacation, the company's acquisitions and ecosystem is starting to pay off.
After reporting a decrease in first-quarter earnings, expect the coming earnings to be much stronger. If Americans purchase RVs, expect them to continue using them even if planes and cruises come back.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.