Stocks Moving on COVID Cancellations
Many events won’t happen this year, and that’s rotten luck for big-brand sponsors and companies with products to announce. However, one company’s loss must be a competitor’s gain, and investors always have their trusty short-selling skills to take advantage of stocks that might be about to plummet. Here’s some of what’s already been cancelled or postponed because of coronavirus, and how it’s all set to affect markets!
The NBA Season
America’s third-biggest sport is in limbo with all games called off.
Bad for Disney, the owner of ESPN.
Major video game developers won’t be able to flaunt their new releases.
Bad for Activision Blizzard, Electronic Arts, and Tencent.
Disney+ Launch Event
“Stay at home” entertainment should do well, but streaming newcomer Disney still needs to win eyeballs!
Good for Netflix, Hulu, and Amazon. Bad for Disney.
All Political Rallies
Feisty political exchanges mean big ratings
Bad for Fox and News Corp.
The high-octane, globe-trotting circus is a no-go, for now.
Bad for Ferrari and main sponsor DHL.
St. Patrick’s Day Parades
Around the world, Irishmen will partake in only “quiet celebrations!”
Bad for Diageo, the owner of Guinness.
Streamers on Amazon’s ‘Twitch’ rely on this event to connect with fans and secure subscriptions.
Bad for Amazon.
Facebook’s F8 Conference
The developer conference is key to building products around Facebook.
Bad for Facebook.
The Geneva Motor Show
Big auto giants won’t be able to leverage media attention as they mount their electric challenges to Tesla.
Good for Tesla. Bad for VW, Daimler, and BMW.
Investors are developers will have to wait to debate the applications of AI!
Bad for IBM.
The tech sector is being tapped to make this dev conference digital.
Good for Microsoft, Google, and Cisco.
Sponsors of this music festival are eager to reach wide Instagramming audiences.
Bad for MacDonald’s.
We could go on, and on, and on! Investors are positioning themselves to profit from the next conferences and events to be axed. The Tokyo Olympic Games still hasn’t been called off, but only because of political pressure. Gross domestic product (GDP) growth for the entire Empire of Japan is hinged on a tourism boost from the Games. Last night marked Prime Minister Shinzo Abe’s first concession that not all events will be held “as planned.”
Health and safety come first, but economic disruption is inevitable. Markets remain open, however, so let us know what companies you’re trading to get ahead of the trend!