2020 was an interesting year for the sports industry, but optimism is high that things will return to normal.
Sports fans have luckily been able to continue watching their favorite teams and even start to return to live events.
Time at home during the shutdown prompted people to buy new home fitness equipment, a trend that is continuing even now.
Despite the challenges the pandemic brought, professional and retail sports stocks have continued to succeed.
We’ve put together a list of the best sports stocks to buy today so that you can take advantage of this trend.
Best Sports Stocks To Buy
Madison Square Garden Sports Corp. (NYSE: MSGS)
Based in New York, Madison Square Garden Sports is an American sports holding company and manages the NBA’s New York Knicks and the NHL’s New York Rangers.
The company originally formed when Cablevision Systems Corporation spun off a number of sports teams, entertainment venues, and media groups.
These entertainment assets were grouped and sold as an independent, publically traded company.
In 2020, the strict entertainment division of the company was spun off and publically sold as Madison Square Garden Entertainment.
As a result, Madison Square Garden Sports Corporation is now strictly devoted to its sports-related assets.
In addition to two professional teams, the company holds two development league teams as well.
Madison Square Garden Sports also holds multiple eSports teams, including players through Counter Logic Gaming, a leading North American eSports organization.
Shutdowns have slowed the growth of the sports company, but vaccines are allowing life to begin returning to normal.
This should mean an increase in attendance at sport venues on every level which can drive the stock price up as well.
DraftKings (NASDAQ: DKNG)
Originally formed as a fantasy sports platform, Draft Kings is one of the largest online sports betting and fantasy platforms in the US.
The company went public in the summer of 2019 and saw explosive growth right out of the gate.
Their stock continues to rise as more than two dozen states plus Washington DC have legalized sports betting.
Another handful of states are looking to follow suit in some way, shape, or form in the coming year.
The company is expected to see continued growth as sports betting continues to gain popularity and legalization.
Notably, in September of last year, Michael Jordan became both an investor and board advisor for the company.
Pick up this stock now to take advantage of expected growth in the near future as sports are returning to normal.
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Best Sports Stocks: Retailers
Dick’s Sporting Goods (NYSE: DKS)
Based in Pennsylvania, Dick’s is the largest sporting goods retailer in the US.
Founded in 1948, the company currently has over 850 store locations and is notably a Fortune 500 company.
Dick’s supplies sporting equipment, footwear, hunting and fishing gear, fitness equipment, and much more.
Even when stay-at-home orders were in full effect, Dick’s saw a surge of sales thanks to workout equipment people could use from home.
Dick’s market cap is valued at well over $9.5 billion. The company’s subsidiaries include Field and Stream, and Golf Galaxy.
Their market performance continues to push toward new heights and seem to be setting records with each passing day.
Vista Outdoor Inc. (NYSE: VSTO)
Vista Outdoor Inc. is an American company with a solid presence in the sporting goods market.
Founded only in 2014, Vista Outdoor has already made impressive strides to make itself known by covering a wide range of products from cycling gear to powersports.
The organization decided to move away from the firearms space but is still a major ammunition dealer.
Ammunition is a hot commodity of late and Vista Outdoor has seen significant growth as a result.
With so many product types on their shelves, the company is well-sheltered from market pitfalls.
With Q3 now in full swing, Vista Outdoor is seeing record high stock prices with a 135% increase from just last year.
This is stock that definitely appears to be trending up.
Best Sports Stocks: Apparel
Nike, Inc. (NYSE: NKE)
Identified by their iconic ‘swoosh,’ Nike is engaged in the development and sale of sports and athletic apparel including footwear, clothing, equipment, and accessories.
The company is the world’s largest supplier of athletic footwear and apparel. They are currently based in Portland, Oregon.
The brand value is over $30 billion as we enter the third quarter of 2021. Sales revenue is up nearly 19% for the year.
This makes them the most valued brand on the market currently in the sports business space.
While most of their revenue stems from footwear and men’s athletic wear, Nike is hoping to change this narrative in the coming years.
Nike is still a vast minority in the women’s apparel space but their presence is growing fast.
The company also hopes to see continued growth in the sale of apparel outside of footwear, which has seen immense success, especially with regard to their Jordan shoe line.
This mega sports brand is currently performing the best it ever has on the stock market.
While Nike shows no sign of slowing down, they are a strong pick for long-term growth.
Skechers (NYSE: SKX)
Skechers is an often-overlooked stock that is overshadowed by big names such as Lululemon and Nike.
Like those big names, Skechers offers good quality footwear that not only comes in the form of sport wear but casual models as well.
They have carved out a nice niche with their styles at more value-minded prices than other brands.
Although the company is based in the United States, they’ve worked hard over the last few years to create a global presence and now receive more sales internationally than domestically.
The stock itself is up some 87% from its price last year, due to a steady rise throughout the first half of 2021.
Skechers continues to grow on the global scene and shows no sign of slowing down in the near future.
Best Sports Penny Stocks
Elys Game Technology Corp. (NASDAQ: ELYS)
eSports are on the rise, and Elys Game Technology Corp. looks to be at the forefront of that space.
The company is part of a growing market in competitive esports arena, revolving around online gaming and gambling.
While only in Europe and Latin America currently, Elys has plans in place to add the United States to their sphere in 2021.
With competitive esports on the rise throughout the world, it stands to reason that online gambling around those esports will only grow as well.
Elys is working hard on innovation, improving their technology suite and looking to expand revenue by selling their technology to other sectors.
All of these indicate a strong possibility for stock growth in the future.
Being a penny stock for the time being, this is likely the best time to buy in.
Super League Gaming (NASDAQ: SLGG)
Another sports penny stock of interest is Super League Gaming.
This gaming community and online platform is a location for all types of gamers to get together virtually to chat and game.
As the company looks to grow, they have acquired the massive live-streaming platform Mobcrush.
In addition, Super League Gaming has joined forces with Rumble Gaming to provide content to gamers during breaks.
The team is also building a presence in popular games like Minecraft, where they have their own server.
Coming out of 2020, Super League Gaming has seen a 60% increase in stock price through the first seven months of 2021.
With many innovations and partnerships happening, this penny stock has the potential to break free from that status in the very near future.
Should You Buy Sports Stocks?
The adaptability of the sports market has pleasantly surprised many fans, which has certainly not been the case in other industries.
The pandemic broadened global interest in new forms of sports entertainment.
Additionally, while the world’s population was in isolation, there has been an increased focus on personal health and wellness.
Each of these events have pushed sports sales forward, and trends continue even now.
With many sporting events reopening to the public, fans want to show off team support more than ever.
As things continue to return to normal, don’t miss out on your opportunity to invest now!