Social media is a relatively new field, but like all of human technology, it’s growing at an exponential rate. Snapchat users enjoy the app, but investors have seen their stock triple in value so far this year. Doubtless, the social media trend will continue to grow as more people jump on board. Especially for the youth of the world, some of whom are not yet old enough to have accounts at many popular social media platforms, the desire to become part of the internet social world is high. Plenty of companies are poised to meet that demand. Here are our top ten tech and social media stocks to consider if you’re into using Snapchat.
10. Snap Inc: SNAP
Typically we don’t include the stock in our title on a list of stocks to consider. However, with the gains this year, it seems almost negligent to fail in suggesting that you buy SNAP stock. There’s no reason why you shouldn’t invest in a company you enjoy using products from. Particularly one that seems like it’s booming.
9. Groupon Inc Common Stock: GRPN
Groupon is unique among our picks because this app is less about internet socialization than real-world socialization. Users get discounts on local services and merchandise, which encourages local spending. Regardless, this internet and social tech stock shows a lot of promise for a penny stock. The app has done well though it’s stock is decidedly down. Nevertheless, we see an opportunity for a rebound from GRPN and t may be a great time to buy low.
8. Meet Group Inc: MEET
Like our previous pick, MEET is about more than online social activity. The company, which has several programs that are all geared toward dating, is all about love and other personal social connections. According to Yahoo Finances’ Daniel Laboe, “This tech company is still expected to grow its topline by double-digit percentages for the next couple years, and its EPS growth and margins look even better.”
7. Glu Mobile Inc.: GLUU
This multiplatform gaming company is bringing people together through competition. While gamers seldom think of what they’re doing as a social activity, vying for top slots on the charts and interacting with other players virtually is still part of the fun. As this company has been on a slow upward trend since 2017, it is definitely a buy and hold long term investment.
6. Yelp Inc: YELP
Yelp is a crowdsourced platform for reviews. Although patrons of this service don’t interact directly, it gives everyone a chance to be an influencer of sorts. Giving people the ability to share their experiences with local and national businesses is vital in today’s economy since a huge percentage of people purchase only after reading online reviews. In fact, in consumers under the age of thirty-four, as many as ninety-six percent read online reviews before buying or using a service. Tha spells big business for Yelp, which has been climbing in value since 2016. However, investors beware, YELP is a roller coaster that is a slow climb, and you may need to buy and hold a while to see a return.
5. Twitter Inc: TWTR
Everyone is familiar with this short-post based app. Sharing opinions with less than two hundred words and a single image is a format that some doubted would last, but it has certainly stood the test of time thus far. Although not as valuable as it was when TWTR started trading publicly, this is one investment where day traders can take advantage of the rocky chart to buy low and sell higher for a quick turnaround profit.
4. SINA Corp: SINA
Sina is the parent corporation for the popular Chinese microblogging property Weibo. While we’re currently looking at a downtrend in the valuation, we also expect the corporation to make a comeback soon enough. Once fears over the coronavirus start to slack off, there’s likely to be another uptick in stock value. Though the same can be said for many Chinese companies. This corporation is adept at developing media properties and may be worth holding onto.
3. Weibo Corp: WB
Speaking of Weibo, if you’d bought into this stock when it first hit the market, then your purchase would be worth double what it was in April of 2014. The current upward value trend might be a good source of income for day traders, but it’s also a good long term investment since more and more Chinese people are joining the tech revolution, and the population is vast.
2. Match Group Inc: MTCH
Similar to the Meet Group, Match is a love and dating based company that focuses on bringing people together. However, unlike most of our picks for this list, MTCH has done little but gain value since it first hit the market in 2015. Simplywall.st recently hailed this stock as undervalued, and we tend to agree. For long term investors looking to sit back and watch their net worth grow, MTCH is a solid bet.
1. Baidu Inc: BIDU
FOr those who are watching the market news, BIDU has been rallying in US markets recently. This multinational giant is a Chinese language search engine. While it’s more a tech stock than a social media property, you can’t very well get social media without looking it up first. Of course, that’s not all you can look up. Nevertheless. We think this tech stock, which we haven’t covered lately, is one to watch, and a buy-low and hold that could make investors a sizeable sum.
Humans are intensely social creatures by nature. It’s rare to find people who don’t, at least to some extent, desire to make those connections. While older generations lament the loss of in-person connections, the youth is all for being able to expand past their neighborhoods, cities, and even beyond their continent to find like-minded companions and gain ‘likes’ and ‘followers,’ to validate their self-expression. We won’t feed you an obvious cliche. However, the shift in buying power will eventually favor the people who are young now. What matters to the youth concerns the future of the stock market, and what they don’t buy into eventually ceases to exist. Social media and tech stocks are certainly not going to play less of a role in the future.