PLNT - Investing in These 3 Stocks Could Double Your Money in the Long Term
The S&P 500 is trading at a historically elevated earnings multiple of 22.2. Simply put, there are a lot of companies with future success largely priced in. Within some of the froth, however, three companies appear to have extensive potential upside from here for very specific reasons.
For patient investors, ViacomCBS (NASDAQ: VIAC) (NASDAQ: VIAB), Lemonade (NYSE: LMND), and Planet Fitness (NYSE: PLNT) could all double your money in the long run.
ViacomCBS is an international media conglomerate with film, cable, publishing, and streaming assets, including Paramount Pictures, Pluto TV, CBS Entertainment, Showtime, Nickelodeon, BET, Comedy Central, and more. Because of how some of these assets operate, 2020 and the coronavirus pandemic have been quite challenging for the company. Films are not being released normally, studio production of numerous TV shows it develops is on hold, and ad revenue for its numerous TV networks is down, and live sports broadcasting that has been so lucrative for the company in the past (through events like college basketball's March Madness) were canceled this year.