This story was originally published here.
Has any sector of the economy been harder hit by the novel coronavirus pandemic than the entertainment industry? From live concerts to movie theatres, theme parks to sports arenas, entertainment has been devastated this year.
Other than streaming services and podcasts, every facet of the entertainment industry has been brought to a virtual standstill by the global pandemic.
According to market research firm Ampere Analysis, the global film and television industry is projected to lose $160 billion over the next five years due to Covid-19. And that’s just movies and TV.
The live concert industry is projected to lose $9 billion, professional sports is expected to lose $12 billion and amusement and theme parks are forecast to lose $18 billion as they shed more than 100,000 jobs.
Given the carnage that has been caused by production shutdowns, lock down orders and the inability of people to gather in large crowds, it is best for investors to steer clear of many entertainment stocks for the time being.
The entire sector, except for streaming plays such as Netflix (NASDAQ:NFLX) and podcast companies such as Spotify Technology (NYSE:SPOT), should be viewed as untouchable until a vaccine against Covid-19 is widely available and people are again able to attend concert festivals, football games and sit together in public movie theaters.
Here we look at seven entertainment stocks that it would be best to avoid for now…
Editor's Note: Click here to keep reading.
Electric cars are taking over
A new type of battery is pushing everything we thought we knew about energy storage to the limits.
According to automotive insiders, consumers will soon be able to go 1,000 miles on a single charge.
Think about that for a moment…
That’s nearly TRIPLE the distance of the best-performing electric cars on the market right now — and more than 8 TIMES farther than the average electric car…
That means you could drive from New York City all the way down to Daytona Beach, Florida, without stopping!
A 1,000-mile range clobbers even the most fuel-efficient gas vehicles on the road today!
In short, this tech is about to change EVERYTHING.
Here’s the best part:
At the heart of this new technology is one company — 1/1,000th the size of GM.
If you want to get in on the electric car revolution, this is easily the best way to do it.
Click here to see the full story.
Senior Investment Strategist, InvestorPlace