Top Consumer Stocks To Buy [Or Sell] In March
Consumer stocks have been picking up momentum in recent weeks. They continue to make headlines as they could be the biggest winner from President Joe Biden's $1.9 trillion coronavirus relief package. The much-needed stimulus could provide a huge boost to consumer spending and in turn top consumer stocks. Wall Street analysts seem to agree as they see certain consumer stocks getting a boost from consumers spending the $1,400 checks coming their way. Past research on how U.S. consumers spend their stimulus checks seems to suggest that the checks would be circulated back into the economy. In particular, households use their past stimulus checks mainly on living expenses such as food and household supplies, which are all part of the consumer sector.
For instance, food wholesaler United Natural Foods (NYSE: UNFI) jumped by over 20% since the start of the month after better-than-expected profits in its second-quarter financials. Talk of stimulus checks could have also pushed the stock higher. Another consumer stock that has also been in the news recently is AMC Entertainment Holdings (NYSE: AMC). AMC is one of the consumer stocks that retail traders have flocked to since the start of the year. As the prospect of the economy reopening in the months ahead, AMC stock has been up by over 300% year-to-date. Given all of this, will you consider buying these top consumer stocks?
Best Consumer Stocks To Watch Right Now
- Nova LifeStyle Inc. (NASDAQ: NVFY)
- Rush Street Interactive (NYSE: RSI)
- JD.com Inc. (NASDAQ: JD)
- Blue Apron Holdings Inc. (NYSE: APRN)
Nova LifeStyle Inc.
Nova is a company that designs, manufactures, and sells residential and commercial furniture for middle and upper-middle-income consumers worldwide. Its products and furniture are sold to consumers in the U.S., China, and Europe. The company is a fast-growing manufacturer of modern lifestyle furniture. Today, the company's share price has more than doubled during the morning session. RSI stock closed Thursday's trading day up 87.08% at $4.49 a share. However, the company has not released any press statement since January so there could appear to be an external force at play.
On social media platforms, it appears that day traders are taking advantage of the volatility that has been seen in other consumer stocks like GameStop (NYSE: GME). In detail, day traders cite the company's low float as a reason to get in. In January, the company announced plans to create a membership-based platform for Nova HealthLine in Malaysia. The online sales platform will help the company distribute its health line products to customers in Malaysia. Will you consider buying NVFY stock?
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Rush Street Interactive
Rush Street is an online casino and sports betting gaming company in the U.S. The company provides a range of offerings, including real-money online casino wagering, online, and retail sports wagering. It operates an online casino and sportsbook called RushBet.co and also operates a real-money online casino in New Jersey and Pennsylvania. The company had announced its fourth quarter and full-year 2020 results yesterday, much to investors' delight. The impressive financials had caused RSI stock to increase by over 15% on today's opening bell. The company's shares closed Thursday's trading session up 13.05% at $18.71.
In its latest financials, Rush Street posted a quarterly revenue of $100 million, a 260% increase year-over-year. Its full-year revenue was $278.5 million, which is a 337% increase compared to a year ago. This increase in revenue could be a direct result of its real-money monthly active users (MAUs) in the U.S., which went up by 116% for the quarter. Given that more people were staying at home in the last few months, the company was able to meet this demand in users. Throughout 2020, the company had also rapidly expanded into both new and existing markets to achieve its impressive revenue growth. Impressively, the company is also the second-largest online casino operator in the U.S. Given all of this, will you consider buying RSI stock?
JD is a consumer company that focuses on online retail. In fact, it is one of the two massive business-to-customer (B2C) online retailers in China by transaction volume and revenue. The company is also a member of the Fortune Global 500. Its cutting-edge retail infrastructure seeks to enable customers to buy whatever they want, whenever they want. JD reported its fourth-quarter results yesterday and its share price has been up by 5% since the start of the week.
In its fourth-quarter financials, the company reported a net revenue of $34.4 billion, which is a 31.4% increase from a year ago. The company also ended the quarter with $5.4 billion in cash and enjoyed a 30.3% increase of its annual active customer accounts to 471.9 million in 2020. JD saw accelerated revenue and user growth during the fourth quarter that was driven by its long-term operating philosophy and customer-centric value proposition. It also continued to diversify its sources of revenue which includes JD Health and JD Logistics. With such exciting developments surrounding the company, will you consider buying JD stock?
Blue Apron Holdings Inc.
Blue Apron is an ingredient-and-recipe meal kit service that exclusively operates in the U.S. Also, the company is focused on providing recipes and fresh ingredients for making home cooking accessible. It offers a novel business model in which it sources, processes, stores, and packages meal ingredients and ships them directly to consumers. APRN stock is up by over 17% on today's opening bell and closed today's trading session up 12.03% at $8.10.
In the company's latest quarter last month, it reported a net revenue increase of 22% year-over-year to $115.5 million. This revenue increase is driven by the continued execution of the company's growth strategy, through product innovation. The company continues to drive customer attraction and engagement. In 2020, it introduced more new products than its prior year, including the recent launch of its new recipe customization and additional ways for customers to get more meals from the company. Lastly, in its financial outlook, the company expects its net revenue to increase in the first quarter of 2021 by approximately 23% to 27%. Given all of this, will you consider adding APRN stock to your portfolio?
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