The first total solar eclipse over the past seven years, which will pass over the U.S., is likely to boost stocks across different sectors. The path of the total solar eclipse – where the sun will appear to be fully blocked by the moon – will stretch from central Mexico to Newfoundland, Canada, and will pass through more than 12 U.S. states.
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Since the next total solar eclipse is likely to be visible from the U.S. in 2044, people are rushing to view this natural phenomenon. A primary beneficiary of this phenomenon has been Airbnb (NASDAQ:ABNB). The online marketplace for homestays saw a 1000% jump in searches for stays along the path of totality in the U.S. Moreover, the company confirmed that 90% of the listings along the path of totality are occupied.
Meanwhile, Choice Hotels International (NYSE:CHH) told MarketWatch that it has seen a “dramatic increase in bookings” year-over-year at its 400 hotels in the eclipse’s path.
Transport Companies Stand to Benefit from the Eclipse Craze
Moreover, major airlines and car rental companies are seeing a major rise in travel spending. Alaska Air (NYSE:ALK) has seen a “three fold increase” in flight bookings along the path of the eclipse in Texas, Ohio, and Mexico.
Other airline majors, including Delta Airlines (NYSE:DAL), are running special solar eclipse flights on which passengers will be able to see the eclipse through extra-long windows. The prices for these flights will start at $749 one way, and a first-class seat will cost $1,150.
United Airlines (NASDAQ:UAL) has witnessed a 127% year-over-year increase in travelers’ bookings to San Antonio from April 4 to April 7. Additionally, flight bookings to Little Rock, Arkansas, have risen by 69% year-over-year, and bookings to Cleveland have increased by 35% year-over-year.
Car rental company Hertz (NASDAQ:HTZ) is also experiencing a surge in demand for car rental bookings, particularly in Dallas and Austin, with a whopping 3000% increase in advanced bookings year-over-year on April 6.
Snack Giants Cater to Eclipse Frenzy
Furthermore, snack companies like PepsiCo (NASDAQ:PEP) are catering to the eclipse frenzy by releasing a limited edition offering of their SunChips brand. This special edition will be available during the four minutes and 27 seconds of the total solar eclipse duration.
Similarly, the doughnut giant Krispy Kreme (NASDAQ:DNUT) is offering a limited-time ‘Total Solar Eclipse Doughnut’ during the duration of the eclipse’s totality.
Is JETS a Good ETF to Buy?
Overall, companies across the travel, hospitality, and food and beverage sectors are all geared up for the solar eclipse. The U.S. Global Jets ETF (NYSEARCA:JETS) is a good option for investors interested in investing in the travel and hospitality sector. Over the past year, JETS has gained by more than 9%.
Analysts remain cautiously optimistic about JETS, with a Moderate Buy consensus rating based on 29 Buys and 22 Holds. The average JETS price target of $23.91 implies an upside potential of 17.9% at current levels.
