September has come to a close and we welcome the month of October. And just like I always do, I’ll discuss the top stock picks for October.
Welcome, everyone! I’m Antoaneta. Today, I’ll discuss the top stock picks for October. Don’t forget to hit the like and subscribe button and please do check our platform for other investing blogs such as, “Tactics To Grow One’s Business Or Investment By Warren Buffett“. So, let’s get started.
Here are the Top Stock Market Picks for October
Facebook is the leading social media platform that’s used by billions of people across the globe. The social media giant has been extremely successful and has generated massive amounts of revenue since its inception.
However, it’s been bridled with controversies. Regulators have gone after the company because of its influence, size, and its method for dealing with hate speech, propaganda, and misinformation. Despite all these, its CEO, Mark Zuckerberg has decided where it wants the company to go.
A few months back, the social media giant expressed its intent to make the most out of the innovations in virtual and augmented reality. Zuckerberg wants Facebook to become a metaverse company.
Before anything else, the company needs to develop the hardware that will allow people to access the metaverse. Andrew Bosworth has been tasked to lead the company in this direction.
This strategic move is bound to raise more concerns on how the company handles information control, and privacy, to name a few. These are risks that Facebook faces. But the company is expected to retain its competitive advantage. Its growth prospects still remain, it’ll have lots of available cash, and the company will continue to be willing to make bold strategies that will take it to the forefront of technological innovations.
Other companies who are thinking of taking on a role in shaping the metaverse need to be ready to compete or take Facebook as an ally. The social media giant continues to find ways to address the issues that come their way while aiming to achieve greater things in the future. This company takes on the number one spot for our top stock picks for the month of October.
- Market Cap = 957.51B
- Stock Price = 340.65
- PE Ratio = 25.22
- 2 Week Range = 244.61 – 384.33
Disney
Disney managed to beat expectations when it reported better-than-expected financial reports, which made investors really happy. The improved performance was great news given that the company struggled a year before because of the coronavirus pandemic. The company had no choice but to delay the distribution of movies because theaters all over the globe were closed down.
Now that restrictions are slowly being lifted, the company’s businesses slowly picked up. It has finally started to generate positive operating income since the pandemic started.
Its cruise line has sailed once again and all four of its ships are expected to be fully operational by October. Disney has also opened up Disneyland and Disney World. But the annual passes are being sold at higher prices. The company has set in place other strategies that are expected to boost its per capita guest spending.
It had some issues after the release of Black Widow as its main star, Scarlett Johansson sued the company for breach of contract, arguing that when the Marvel film was released on Disney+ significantly affected its box office receipts.
CEO Bob Chapek shared that the company will focus more on its direct-to-consumer business. The Mandalorian won’t be released until 2022 but they’re pleased that they managed to release content that is no longer a single hit series.
Disney has 174 million subscribers for its Hulu+, Disney+, and Hulu services. Disney+, which has 116 million subscribers, isn’t expected to start earning profits until 2024. That’s not a problem as long as it continues to expand its audience, produce interesting content, and boost its cost controls.
The company’s theme parks are expected to benefit from the easing of travel restrictions and the opening of economies across the world. Disney World is set to celebrate its 50th anniversary. It is expected to unveil new shows and rides that would improve the consumer experience.
When it comes to Disney’s theatrical front, the six biggest movies are expected to come out and make waves including Eternals, The Last Duel, The King’s Man, Ron’s Gone Wrong, and West Side Story. These films will premiere exclusively in theaters for 45 days before they’re released to various digital platforms. Meanwhile, the movie, Encanto, will be aired exclusively in theaters for 30 days on Nov. 24 before it is released to Disney+ for Christmas.
The surge in COVID-19 cases may negatively affect the company’s operations once again. But things are still looking good for the company in general.
- Market Cap = 313.782B
- Stock Price = 174.52
- PE Ratio = 283.08
- 52 Week Range = 117.23 – 203.02
Domino’s Pizza
Domino’s Pizza, the world’s largest pizza company, announced a whopping $1 billion share buyback. The company also had a strong earnings report back in July. Its second-quarter profit was at $3.12 a share, marking a 4% increase year-over-year. Its revenue growth rose by 12% to $1.03 billion. The company’s US same-store sales were up by 3.4% while sales outside the country jumped by 13%.
The company has decided to open up more stores to improve its delivery time. This strategy seeks to help them compete with other known food delivery services such as DoorDash, Postmates, and UberEats.
Some analysts have reservations regarding the company’s expansion strategy. However, it seems like their plan is working given that its revenue during the second quarter increased by 13% last year, while its third and fourth quarter rose by 18% each.
Domino’s is also making the most out of today’s technological innovation. It has partnered up with robotics company Nuro and they’re in the process of testing an autonomous vehicle delivery system.
- Market Cap = 17.801B
- Stock Price = 484.91
- PE Ratio = 38.94
- 52 Week Range = 319.71 – 548.72
Asana
Asana is a cloud-based work management platform. It celebrated its one-year anniversary as a public company. It went public on September 30 last year. Since then, its stock price now stands at 21%, marking a 400% increase.
Asana’s stock price rose by 32.12% in the previous month. It jumped a total of 66.48% in the last quarter and a massive 246.02% raise for its year-to-date.
In the last four quarters, Asana reported better than expected revenues. Meanwhile, the company’s revenue in the past eight quarters increased by at least 57%. Its year-over-year gain skyrocketed by 72% to $89.5 million. Asana may have incurred losses but it’s typical with other young, and fast-growing firms.
Asana and similar companies are in high demand these days. With its positive outlook, this company should be included in your list of top stock picks for the month of October.
- Market Cap = 19.218B
- Stock Price = 103.23
- 52 Week Range = 20.57 – 124.85
- 52 Week Range = 20.57 – 124.85
The Very Good Food Company
An increasing number of people are adopting a healthier lifestyle these days. It means there’s an ongoing shift in consumer food habits. If you’re looking for a stock to invest in for the month of October, you should definitely include The Very Good Company.
The Very Good Food Company is a Canadian company that was established in 2017. Its business focuses on the design, development, production, distribution, and sale of plant-based meats in Canada and the U.S. They offer their products online and wholesale. It trades on the OTC Markets and its US market cap stands at $218 million.
The company’s Butcher’s Select Product Line earns the Best New Frozen Category at the NEXTY Awards. Its New Gluten-free and Soy-free product line also secured a non-GMO certification. The company is also making efforts to increase its retail presence in the United States through the Earth Fare Supermarkets.
The distribution of its products within the United States rose by 75% and Very Good Products will soon be available in 825 outlets in North America. It has partnered up with 3PL Logistics Provider because it’s set to launch its e-commerce sales in the UK.
- Market Cap = 207.228M
- Stock Price = 2.0300
- 52 Week Range = 0.9720 – 7.4300
So, that’s it for today. I hope you’ve learned something useful about the top stock pick for October. Don’t forget to click the like button and hit subscribe. Check out our platform for other investment blogs that you may find useful.
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- How to Win Friends and Influence People
- You Are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life
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- Business Secrets from the Bible – Daniel Lapin
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