Fundstrat analyst Tom Lee says a dozen stocks have significant upside potential in the wake of the economic fallout triggered by the coronavirus.
In a new note to investors, Lee says early indicators suggest certain segments of the travel industry are in the early stages of a recovery. Specifically, he says couples and single travelers are gearing up for their next vacations.
Lee says timeshares and hotels are poised to benefit, and as noted by Business Insider, he’s pointing to twelve stocks that have been hit hard by the economic disruption as potential buys.
- BBX Capital (BBX)
- Wyndham Destinations (WYND)
- Bluegreen Vacations (BXG)
- Hilton Grand Vacations (HGV)
- Marriott Vacations Worldwide (VAC)
- Red Lion Hotels (RLH)
- Marriott International (MAR)
- Wyndham Hotels & Resorts (WH)
- Hyatt Hotels (H)
- Hilton Worldwide Holdings (HLT)
- Choice Hotels International (CHH)
- Extended Stay America (STAY)
As for Bitcoin, Lee tells The Scoop that BTC and the crypto markets at large showed strength in the recent crash on March 12th by remaining above $5,000 at the end of the trading session.
As long as traditional markets don’t suffer an all-out collapse, he expects the halving and a weakening dollar to boost BTC in the long run.
“From a technical perspective, I think a lot of folks thought $5,000 was the downside level and Bitcoin held that level. So I think that’s good. So at least you don’t have this dire technical picture.
But from the ability for Bitcoin to respond to things like the halvening coming up or to a weakening dollar, because one of the upshots to this is probably the dollar is weaker in the future – that’s all going to be good for crypto, as long as we have essentially a functioning financial system in the US. And again, that would be my expectation.”
Bitcoin is up 3.64% at time of publishing, at $9,275 according to CoinMarketCap.