Investing during the Paris Olympics: Key stocks to watch

The Economic Impact of the 2024 Paris Olympics

The Paris 2024 Olympics have kicked off, promising not only a display of sportsmanship but also a significant economic and financial showcase.

It’s estimated that the Olympic Games will create 116,000 jobs and add €9.8 billion to the French economy, primarily driven by organizational expenses.
While these figures represent a small fraction (0.4%) of the French GDP, the impact is expected to extend beyond 2024, with lasting effects.

Stocks to Watch During the Paris Olympics

Several notable companies are under the spotlight during the Olympic Games.
Listed firms sponsoring the global event have the potential to benefit from worldwide visibility.
Analysts have identified key stocks to monitor during the games.

Favorable picks include sports-related companies and sponsors, betting firms, and other sectors that may shine on the stock market amidst the Olympic frenzy.

Sponsors like LVMH, Air France, BNP Paribas, EDF, Orange, Sanofi, Accor, Carrefour, Cisco, and Decathlon are expected to garner attention.
Additionally, companies beyond France are also being closely monitored during the Games.

Highlighted Stocks

Foot Locker

Foot Locker stands out as a pivotal destination for sports footwear showcased at the Paris Olympics.
Despite facing challenges, the company is making significant strides in its restructuring plan, particularly through innovative collaborations with brands like Nike.

Analysts acknowledge Foot Locker’s ongoing structural challenges but see potential for improved financial performance driven by better relations with Nike and strategic investments.

DraftKings

DraftKings is a key player in the online betting business, which is gaining momentum, especially with Olympic event wagering.
Despite trailing the broader market, analysts remain optimistic about DraftKings’ upside potential.

Comcast

Comcast’s media dominance during the Olympics, particularly through its streaming platform Peacock, is set to capitalize on increased viewership.
The company is expected to benefit from heightened advertising spending during the Paris Olympics and the 2024 US presidential elections.

Airbnb

Airbnb’s significant surge in bookings and revenues during the Paris Olympics underscores the company’s ability to cater to event-related accommodations.
The economic impact of Airbnb hosting Olympic attendees is estimated to be substantial.

Atos

As the technological partner for the Olympics, Atos plays a critical role in ensuring the success of the global event through digital innovation.
The company’s performance post-Olympics is closely watched for potential market impact.

Coca-Cola

Coca-Cola’s enduring global partnership with the Olympics, coupled with recent revenue growth, suggests positive stock performance in the near term.

Visa

Visa’s official payment technology partnership for the Paris 2024 Olympics presents significant opportunities for market engagement and a boost in stock value.
Collaborative initiatives like “Winning Payments” position Visa favorably for post-Olympic market traction.