Barely two years ago, sports betting was legalized in the United States. Now investors are getting excited about sports betting stocks with football season less than a month away.
Yesterday’s private-sector payrolls report from ADP showed the industry adding 49,000 jobs in April. That translated into a 0.66 percent increase overall — triple the broader total. It followed a string of increases going back more than two years.
The Market Vectors Semiconductor ETF (SMH) is up about 7 percent in the last week, making it the best-performing major fund in the entire market. Its sharp gains so far in April also put it on pace for its best month in over a decade.
Early leader Tilray (TLRY)
might have fallen asleep after a blistering rally in September, but others have lit up more recently. Aurora Cannabis (ACB) glowed green today, ripping 12 percent to a five-month high.