The Tokyo Olympics are starting soon (formally this Friday)! But… no one will be there 🤷. The Games have banned spectators, and many Japanese even don’t want it to start.
Why is there no audience?…because of Covid?
Yes, of course. This is probably the most special + difficult batch of Olympics. Before its official start, the Olympic Village has become a cluster. 😱
- In the place where athletes stay, more than 70 Covid cases have been detected, and people are scared that it will spread to the local community and further their crisis.
That sounds terrible, will the Olympics be canceled?
Remains to be seen…but it’s not impossible. The organizer on Tuesday didn’t rule out a last-minute cancellation, and they will continue discussions if cases spike.
Many Japanese don’t even want the Olympics to start. 🙅 A poll showed 55% of the Japanese said “no” to see it begin this Friday, and national disapproval stood above 70%.
- Advertisers are leaving: the biggest sponsor Toyota, together with many others, withdrew their ads over public opinions and low exposure (host’s last-minute decision of no audience 🙃).
And this is bad news for Japan, no audience = big loss. 😥 The lack of spectators will cost Japan a forecasted USD 2 bln, not to mention the money they previously spent to renovate all those sports centers.
Is there any opportunity in the stock market btw?
There would definitely be winners and losers, but this time it will be different from traditional Olympics.
- Expected winners: 👍 stay-at-home stocks. E.g. food-delivery services, electronic companies selling TVs.
- Losers: 👎 once-favored advertisers, real-estate firms and travel operators.
You know what, KFC Japan (TYO: 9873) has already risen around 3% over the past month on stay-home demand, and it may continue to benefit as fried chicken perfectly matches the Olympics! 😄 Hungry now.