Millennials are going to be a new force driving the economy. With 92 million members, this enormous generation is going to change the dynamic of winners and losers on Wall Street. Earlier this week, my friend and colleague JL Yastine told you about the impact that millennials are having on the RV industry. Once the domain of baby boomers, millennials are diving into this form of recreation, helping to give Camping World Holdings (NYSE: CWH) a boost since its recent initial public offering.
With previous generations, we saw a drive to acquire things and stuff to fill their homes or apartments.
However, with millennials we find a drive for experiences, whether that’s traveling the globe or going to music festivals. Their interest in traveling throughout the country is often mixed with a love of being active outdoors and engaging in adventurous activities like hiking, rock climbing and camping.
This love is creating some big winners in the stock market, such as Camping World Holdings. The stock has rocketed up by 56% at its peak earlier this month, and it will likely continue to gain with help from millennials.
Editor, Profits Unlimited