HOW TO PLAY IT
“After two years of a ‘social recession,’ consumers are aching for Covid-safe, outdoor, social media–shareable experiences,” says Chelsea Wiater, portfolio manager with $1.1 billion (assets) at EFG New Capital in Portland, Oregon. Even in a scenario in which Covid-19 is endemic, she expects a return to frivolity. Look for a surge of traffic (and profits) at the 27 amusement parks of Six Flags Entertainment, with its branded rides and subscription-style pricing. Value investors will like Callaway Golf, which owns premier equipment and apparel brands “at the forefront of the revitalization of a sport once reserved for older generations that is now a bona fide social media darling.” Callaway looks cheap at 14 times trailing earnings.