3 Best Social Media Stocks To Buy
In this day and age, investing in social media stocks might seem like a no-brainer. Social media platforms have a little something for everyone and are especially beneficial if you run your own business. You would be hard-pressed to find someone who doesn't utilize social media on some level in their personal or professional life. Even though social media was doing extremely well before, the Covid-19 pandemic saw an even bigger spike in social media use. According to Statista, in 2020 3.6 billion people in the world used social media. If you still need some convincing, here are the top three social media stocks to buy.
Facebook (FB)
According to Nasdaq, Facebook stock has been on an upward trajectory since the market crash in March 2020. The most recent quarterly report showed it at $3.30 per share. Facebook has long dominated the social media world as a way to keep up with the news, current trends, and stay connected with friends and family. It is used to promote small and large businesses and allows people to share their lives, their thoughts, and their art. Because of the friendly user interface and flexibility, the number of Facebook users continues to grow which in turn increases stock value. The most recent report of daily active users (DAUs) showed an average of 1.88 billion.
Snap Inc (SNAP)
If you are investing in social media stocks, Snap Inc, otherwise known as Snapchat, is something to check out. There is some misconception that it is only for younger users, however, the platform is constantly upgrading the user experience with new filters, games, and ways to communicate. According to Nasdaq, the company's revenue has increased by 66% in the past year. They show their highest ever daily active users at 280 million. While some have tried to copy their business model, Snap has proven that they are here to stay and intend to keep up with the demands of their users.
Bilibili Inc (BILI)
Bilibili is an up and coming social media platform that has gained huge popularity among Chinese users born between 1985 and 2009. According to the South China Morning Post, it is similar to YouTube in that users can upload content ranging from gaming topics to science and more. By the end of 2020, Bilibili had 1.9 million content creators and 54 million daily active users. This social media stock made its debut on the New York stock exchange on March 26, 2021. It has so far exceeded performance expectations with user numbers climbing. If you want to get in on a social media platform that has strong future potential, Bilibili might be the choice for you.