5 Best Social Media Stocks to Buy Now

4. Twitter, Inc. (NYSE:TWTR)

No of HFs: 75
Total Value of HF Holdings: $2.15 Billion

As of the first quarter of 2019, twitter averaged 330 million monthly active users. It is not a surprising number with the services it offers. The platform was launched in 2006, and since then it has been providing users with social networking and microblogging services. According to Statista, as of May 2020, Barack Obama’s account had the most followers with 118 million people.

But is Twitter (TWTR) a stock to buy for 2021? Carillon Eagle Mid Cap Growth Fund recently made comments where he mentioned that twitter’s user count continues to accelerate.

“Twitter’s user count continues to accelerate due to the global stay-at-home situation as well as the numerous positive changes the company has introduced on the platform in order to keep users engaged. The addition of various topics and lists along with the expansion of video have led to more users joining the platform and kept existing users more engaged. We believe the next positive development on the horizon could come from the company’s ability to increase the monetization of these users.”