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The second half of 2021 begins with a green market and a new infrastructure bill.
The second half of 2021 started strong with all 3 major indices closing in the green.
The first half of this year’s economy showed steady growth, despite inflation fears and ups and downs in reopening. Going into the second half, there are a few reasons for the market to be giddy, including the passing of the federal infrastructure bill. We talked about this earlier in the week. The lawmakers gave a green light to additional spending on transportation, waste, and water infrastructure. In general, the government contracts these projects, and we'll expect to see some benefit to the companies and sectors that take on these jobs. Those are some of the reasons the markets started the second half on a high note. GET THE DAILY MARKET RECAP
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Pop Culture Group (CPOP) IPOs as live events return, while Live Nation (LYV) and Eventbrite (EB) climb back from their pandemic woes.
Today, I noticed Pop Culture Group (CPOP) on Stock Card’s list of winning stocks. This China-based recent IPO is looking to create a connection between the hip-hop cultures in America and China. This will come through events, corporate services, and managing intellectual property in the hip-hop world. The IPO price jump is significant for the entertainment stocks.
The entertainment industry benefited in some part by more people being in front of their screens, but the live events business has been nearly dormant until this summer. Let’s take a look at some companies that are seeing a resurgence as the season heats up. The largest player in music venues and events is Live Nation (LYV). It has seen slow but definite growth since the pandemic winded down. Live Nation almost has a monopoly on event venues. It dominates ticket sales through its Ticketmaster unit as well. The company shows no signs of slowing down! I was surprised to see that it has added over 5 million new ticket purchases year-to-date. This is one stock to watch. Similarly, Eventbrite (EB) has had a great year. The event booking and management startup had a hard time when the pandemic hit. However, the earnings report for the latest quarter shows a 4% growth in revenue. It’s not a huge jump, but business is still ramping up. This is one other stock to watch if you are betting on future live events. NEW PORTFOLIO
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