Olympics 2024 Preview: Victor Wembanyama's Silver Lining and Its Impact on Markets

As the world eagerly anticipates the 2024 Olympics, basketball phenomenon Victor Wembanyama has already set the global stage ablaze with his sterling performance, securing a silver medal that has caught the attention of sports enthusiasts and investors alike. Despite not clinching gold, Wembanyama's impact on the game and its wider implications for sports-related businesses cannot be underestimated. As investor eyes pivot to opportunities tied to the rising stars of the sporting world, attention also turns to major companies that stand to benefit from the global sporting event.

Alphabet Inc.—A Multinational Giant in Focus

Among these companies is Alphabet Inc. GOOG, the parent company of Google. Founded on the soil of innovation in Mountain View, California, Alphabet came into existence following a strategic restructuring in 2015. This transformative move rippled through the tech world, as Google's co-founders remained at the helm of Alphabet, ensuring continuity in vision and innovation. Today, Alphabet stands mightily as the fourth-largest tech company by revenue globally and is heralded as one of the most valuable companies in the world. Its influence spreads across various sectors, making it a noteworthy mention in any discussion about market-shifting events like the Olympics.

Investment Considerations in a Sporting Context

For investors, the connection between global sporting events such as the Olympics and market movements requires close attention. Performance by athletes like Wembanyama not only put the spotlight on the sports industry but could also translate into increased interest in media rights, advertising technologies, wearable devices, sports apparel, and a myriad of other products and services. Alphabet Inc., with its expansive ecosystem of services and advertising platforms, may feel the reverberations of such high-profile events. Thus, it becomes imperative for market participants to monitor the stock performance of such companies before and after major global events. During the Olympics, particular attention will be paid to the consumer engagement metrics and advertising reach by Alphabet GOOG, which could see significant upswings during this period.

Olympics, Wembanyama, Investment