New Trade for July 17th 2020

Futures are slightly green this morning after stocks closed modestly lower yesterday. We are wrapping up a wild week.  Skepticism remains high as markets process an endless litany of cause for concern.  

Despite rising coronavirus cases, the U.S. is slowly pushing forward to reopen the economy.

June’s retail sales rose 7.5%, indicating consumers eagerness to return to their usual activities.  

Many Americans were relieved to hear that sports leagues have received the necessary permission from government authorities to restart their season (following the required health protocols).  Our trade alert for today highlights one stock that is poised for gains as we continue to push through important milestones in reopening the economy.  

DraftKings (DKNG) runs fantasy sports draft contests where participants pay a fee and stand to win impressive prizes, all from the safety of home.  DKNG stands to benefit while many other gambling establishments must remain closed.  Share prices have already risen over the past few days, upside momentum could continue as games resume, especially if they are allowed to complete their season.  

Major League Baseball is planning to start its season on July 23rd and the NBA is set to resume its season on July 30th in Orlando, where all teams will be housed at Disney (DIS) resorts.  


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