A wise investor always finds ample opportunities to benefit from any crisis. The new Omicron variant is no exception, SpringOwl Asset Management’s CEO Jason Ader believes. The head of the asset management firm knows how to take advantage of the new virus.
He strongly recommends that investors turn attention to stocks of travel companies that are currently trading much lower. Omicron threw a punch on the travel industry, including stocks of companies within the sector. The expert thinks the intermediate pullback is likely to be short-lived, thus betting on travel stocks’ growth in the not-too-distant future. He reckons that a plunge in global stocks creates attractive buying opportunities. Jason Ader is bullish on casino stocks, particularly in Macau. The savvy investor took notice of Las Vegas Sands which owns and runs resorts and casinos across the US, Macao, and Singapore. Its stock tumbled by about 50% from its January 2020 levels.
Global financial markets took a nosedive amid the news on the new coronavirus strain in late November. The S&P 500 dropped by 1.6% in a couple of minutes. The Dow Jones slumped by 2.2%. The Nasdaq lost 1.2%. The prospects of business restrictions dampened sentiment in the crypto market. The negative sentiment sliced 6.8% off Bitcoin’s price.
The discovery of the Omicron variant and its rapid spread around the world placed the European Commission on full alert. The EU authorities are ready to re-impose any extra restrictions on European citizens. Some countries have already announced emergency measures.
