Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

3 March Madness Stocks To Consider As The NCAA's 'Big Dance' Kicks Off

By (Jesse Cohen/ MarketsMar 17, 2021 09:07
3 March Madness Stocks To Consider As The NCAA's 'Big Dance' Kicks Off
By (Jesse Cohen/   |  Mar 17, 2021 09:07
Saved. See Saved Items.
This article has already been saved in your Saved Items

The 2021 NCAA Men’s Basketball Tournament, also known as March Madness, or the Big Dance, is set to kick off this week. The college basketball extravaganza—a 67-game slate played over 19 days in Indianastarts on Thursday, with the championship game to be played on Monday, Apr. 5.

Last year’s NCAA tournament was one of the first of several major sports-related events in the U.S. which were canceled due to the coronavirus pandemic. As such, the 2021 edition of March Madness could potentially be more popular than ever, given pent-up demand for the event.

In the spirit of March Madness, here are three stocks that are likely to be some of the standout winners as the Big Dance kicks off.

1. DraftKings 

This year’s March Madness tournament is expected to be the most wagered-on sporting event in history. According to projections from industry group PlayUSA, the 2021 NCAA tourney could generate anywhere between $1 billion and $1.5 billion in legal betting.

As opposed to other popular sports betting events like the Super Bowl or the World Cup final, the NCAA tournament benefits from having several games to wager on.

That should bode well for DraftKings, (NASDAQ:DKNG), whose stock has scored strong gains in recent months as Americans flocked to its sports-betting platform after more states legalized online sports gambling.


DKNG Daily
DKNG Daily


Shares of the Boston, Massachusetts-based sportsbook operator—public through a special purpose acquisition company (SPAC) as of April of last year—are up around 44% so far this year, compared to the S&P 500's 5.5% gain over the same timeframe.

DKNG stock closed at $67.14 on Tuesday after touching a record high of $74.07 late last week. At current levels, DraftKings has a valuation of $26.6 billion, making it the most valuable company in the sports betting industry.

With gambling on this year’s NCAA tourney expected to reach new peaks, DraftKings stock is well positioned to continue its march higher in the days and weeks ahead.

Honorable mentions: Penn National Gaming (NASDAQ:PENN), Flutter Entertainment (OTC:PDYPY), MGM Resorts (NYSE:MGM)

2. Coca-Cola 

As one of the three major sponsors of the NCAA tournament—along with AT&T (NYSE:T) and Capital One Financial (NYSE:COF)—the iconic Coca-Cola (NYSE:KO) brand is expected to be one of the main beneficiaries of this year’s March Madness event.

Coca-Cola is an official NCAA ‘Corporate Champion’ partner, which means that their in-arena ads and television spots will appear regularly throughout the tourney.

That should bode well for the beverage giant’s mind-share, which directly correlates to the development of positive consumer awareness and popularity.

Not surprisingly, London-based Brand Finance, a brand evaluation company, recently ranked Coca-Cola as the strongest brand in the U.S., overtaking the top spot from Disney (NYSE:DIS) and beating out names like Apple (NASDAQ:AAPL), and Amazon (NASDAQ:AMZN).

It is also worth noting that Coca-Cola owns Powerade, the official sports drink of March Madness. As in previous years, Powerade is offering commemorative limited-edition 28-ounce bottles emblazoned with the numbers 0-99—giving consumers an option that connects with their own jersey number.


KO Daily
KO Daily


Shares of the Atlanta, Georgia-based soft drink giant have gotten off to a rough start in 2021, falling by almost 7% year-to-date, as the COVID-19 outbreak negatively impacted sales of Coca-Cola products around the world. KO stock settled at $51.22 yesterday, earning it a valuation of $223 billion.

Besides the potential tailwind from March Madness, Coca-Cola is also expected to get a lift as the pandemic recedes and more restaurants and leisure establishments begin to reopen in the coming weeks.

Honorable mentions: Domino’s Pizza (NYSE:DPZ), Yum! Brands (NYSE:YUM), Papa John's Pizza (NASDAQ:PZZA)

3. ViacomCBS 

Any discussion of March Madness stocks would be incomplete without ViacomCBS (NASDAQ:VIAC), the network which airs most of the tournament’s 67 nationally televised games, including the most-watched ones.

CBS—host of the NCAA Tournament since 1982—will televise the broadcast for both Final Four games scheduled for the last weekend of the Big Dance, as well as the National Championship game, which is expected to draw in around 15 million viewers.

As such, the media entertainment company has a lot to gain through ad-revenue during its March Madness coverage, which can at times command a fee of more than $1.5 million for a 30-second commercial spot.


VIAC Daily
VIAC Daily


ViacomCBS has gotten off to a tremendous start to the year, rallying about 158% so far in 2021, as investors piled into the name amid optimism surrounding its new streaming service, called Paramount+.

VIAC stock ended at $96.24 last night, just below its all-time high of $101.85 reached at the start of the week. The New York City-based media conglomerate has a market cap of $54.2 billion.

If this year’s NCAA tourney does in fact score unusually high viewership ratings, one of the biggest winners will be VIAC stock.

Honorable mentions: AT&T T, Fubotv (NYSE:FUBO)

3 March Madness Stocks To Consider As The NCAA's 'Big Dance' Kicks Off

Is Apple a Better Buy Than Its Competitors?

Make quick Apple peer comparisons with data metrics like company health scores, cash flow statements and valuation models to never miss an opportunity.

View AAPL Peer Comparisons
Unlock all of Apple's Peer Comparisons with InvestingPro+

Related Articles

3 March Madness Stocks To Consider As The NCAA's 'Big Dance' Kicks Off

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Our Apps
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
  • Sign up for FREE and get:
  • Real-Time Alerts
  • Advanced Portfolio Features
  • Personalized Charts
  • Fully-Synced App
Continue with Google
Sign up with Email