22Jan10:58 amEST
Super Bowl Plays for Cold Blustery Days
With roughly a week and a half until Super Bowl LIV kicks off in Miami, it is worth looking at some plays which could easily get a boost until the global event.
Wingstop makes sense, as plenty of chicken wings are likely to be devoured before and during the game. Wings are relatively cheap, abundant, and tasty. Wingstop is specifically focused on chicken wings, as you might imagine. And it is a growing brand we have discussed both on this website and for Members periodically.
On the updated WING daily chart, below, with earnings a little more than one month away we can focus on the massive consolidation over the last few months--Before the pause, WING had a potent rally for much of 2019. The stock is relatively highly-shorted and can squeeze over $93.75 resistance, especially into Super Bowl Sunday.
Another name worth examining is Bloomin' Brands, Inc. (BLMN), owner of Outback Steakhouse, and sporting a clean chart. BLMN has clearly gone to great lengths to make Outback more accessible as a quasi-fast/casual dining experience rather than purely casual, which could boost it for the Super Bowl, too (e.g. efficient use of their app for "Curbside Takeaway").
But WING seems like a pure play on the chicken wing angle for Super Sunday, and I expect their stores to earn quite a few brand new customers for the big game as trying out Wingstop on that day seems entirely reasonable.
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