Stock Groups

3 Social Media Stocks Wall Street Predicts Will Rally by 30% or More -Breaking

by Mike Robinson

[ad_1]

© Reuters. Wall Street predicts that 3 Social Media Stocks Wall Street will rally by at least 30%

Despite the economy’s reopening, social media platforms are securing increasing user engagement. Wall Street analysts anticipate Snap (SNAP), Twitter(NYSE:) and Bumble (BMBL), to increase their price by 30% or more over the coming months. Continue reading. Despite the opening of the economy, and the return to outdoor activities, demand is growing rapidly for social media platforms. The number of social media users has increased by 9.9% in the last 12 months, reaching 4.55 billion people as of October. Global WebIndex reports that social media is used by 57.6%. Global social networking platform market will reach $939.68 Billion by 2026. This represents a 25.4% compound annual growth rate.

Social media platforms rose in popularity at the peak of the COVID-19 pandemic. This was because many people felt the need to be physically isolated from other people and used social media to keep them connected. Social media is being used more for entertainment than for health and business purposes. Investors’ interest in social media stocks is evidenced by the Global X Social Media ETF (SOCL) 8.2% returns over the past year.

Wall Street analysts look for quality social media stocks Snap Inc . (NYSE:), Twitter, Inc. TWTR, and Bumble Inc. BMBL to see significant gains in the short term. Therefore, we think these stocks could be solid additions to one’s watchlist.

Continue reading on StockNews

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is among the most risky investment options. Please make sure you are fully aware of all the costs and risks involved.



[ad_2]