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.
Johnson stated that heading into earnings season, the more discretionary-related leisure stocks in his coverage have more upside potential than the "more defensive" toy and video game segments.
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Johnson continued that Brunswick Corporation (NYSE: BC), a maker of marine engines, boats and active recreation products, could outperform the Street's expectations. Meanwhile, sentiment surrounding Harley-Davidson Inc (NYSE: HOG) is "so low" that merely communicating to investors "less worse news" could send shares higher.
On the other hand, Johnson stated that the toy segment is "still performing well" and among the group he likes Mattel, Inc. (NASDAQ: MAT) heading into earnings season. However, the analyst did caution that the toy sector's valuation is trading "on the high side."
Johnson also recommended investors avoid Hasbro, Inc. (NASDAQ: HAS), as the company's key brands such as "Star Wars" and "My Little Pony" may have underperformed in the quarter.
Johnson also stated that video game stocks are trading at a high valuation at 19x forward earnings per share. The group could trade higher but execution "needs to be solid," numbers need to be "strong" and full-year guidance "needs to be lifted." In addition, the recent success of the Pokémon GO mobile game "could sap some engagement" away from console and PC games, which could impact their outlook.
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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.