Friday Fast Five - 10/14/2022
by Hodges Investment Team, on Oct 14, 2022 7:00:00 AM
Five interesting things that Hodges Capital research analysts discovered this week...
#1 Let’s rock and roll! - According to Live Nation Entertainment, the largest concert producer in the US, 2022 attendance is over +20% higher than in 2019. Moreover, Pollstar data shows that among the top 100 tours in the first half of 2022, the average number of tickets sold was +6% higher than the same period in 2019.
#2 Defense spending boom leading to an empty chamber - According to the Wall Street Journal, the United States and Europe are running out of ammunition and weapons to send to Ukraine. As production could take months or even years to ramp up for some systems, a new $625 million security assistance package for Ukraine has been recently authorized to bring the United States' total assistance to more than $17.5 billion.
#3 JP Morgan CEO on American leadership in energy - After weeks of consistent drops, gas prices in the US are on the rise again. “We should have gotten that right starting in March,” according to JP Morgan’s CEO, Jamie Dimon. “In my view, America should have been pumping more oil and gas and it should have been supported. Obviously, American needs to play a real leadership role. America is the swing producer, not Saudi Arabia.
#4 Table for??? - According to the National Restaurant Association, 63% of restaurant revenue came from takeout prior to the pandemic. During lockdowns, that soared to 90%. And today, its’s roughly 80%.
#5 Huffing and puffing to the last 1.2 miles - Marathons traditionally mirrored the 25 miles between Marathon and Athens, Greece, until the 1908 London Olympics when Queen Alexandra requested it be lengthened to 26.2 miles so that the youngest members of the royal family could see the race from their nursery in Windsor Castle. Any runners struggling through that final home stretch should know exactly who to curse.
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