RBLX - 2 Entertainment Stocks For Your Late-October 2023 Watchlist
2023-10-22 13:48:33 ET
The entertainment sector is a vast and diverse arena that covers everything from movies and music to books and live performances. At its heart, this sector thrives on capturing the audience’s attention and imagination, creating moments of joy, reflection, and connection. As technology has evolved, so too have the ways we engage with entertainment. Digital platforms and streaming services now play significant roles in how we consume content.
Shares in entertainment companies, or entertainment stocks , offer investors a chance to benefit from our continual pursuit of leisure and entertainment. The revenue for these companies often comes from our discretionary spending. This makes the sector a reflection of our cultural and leisure preferences. However, the nature of the entertainment world means that its success can often hinge on the popularity of a particular movie, show, or artist, leading to potential fluctuations in profits.
When considering an investment in entertainment stocks, it’s essential to recognize the sector’s unique blend of creativity and commerce. While there’s certainly potential for impressive returns, the industry’s ever-changing landscape can also introduce a level of unpredictability. Therefore, potential investors should stay informed about the latest trends, emerging technologies, and shifts in audience preferences to navigate the entertainment stock market successfully. Keeping this on top of mind, here are two entertainment stocks to watch in the stock market today.
Entertainment Stocks To Buy [Or Avoid] Now
- The Walt Disney Company ( NYSE: DIS )
- Roblox Corporation ( NYSE: RBLX )
Walt Disney Company (DIS Stock)
Firstly, The Walt Disney Company (DIS) is a diversified multinational entertainment conglomerate known for its vast array of media networks, theme parks, film studios, and merchandising operations. The company’s portfolio includes iconic brands such as Pixar, Marvel, Lucasfilm, and 21st Century Fox.
In September, Walt Disney Company announced a new multi-year distribution deal with Charter Communications. This deal ensures the return of Disney’s channels to Spectrum’s lineup and melds both classic broadcasting and modern streaming services. Notably, certain Spectrum TV packages will now feature Disney+ Basic and ESPN+. Furthermore, Disney’s Direct-To-Consumer platforms will be accessible to Charter’s internet-only subscribers.
In the last month of trading, shares of DIS stock have increased by 1.72%. Meanwhile, as of this past Friday’s closing bell, Walt Disney stock closed modestly lower by 0.72% at $82.65 a share.
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Roblox (RBLX Stock)
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 globally, 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 reported that it will release its financial results for the third quarter of 2023 prior to the U.S. markets opening on Wednesday, November 8, 2023. Additionally, the company plans to hold a conference call on the same day to address inquiries related to its financial performance.
Looking at the last month of trading action, shares of Roblox stock have advanced by a whopping 25.05%. While, as of Friday’s closing bell, RBLX stock is trading at $31.75 a share.
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