5 Best Social Media Stocks to Buy Now

1. Facebook, Inc. (NASDAQ:FB)

No of HFs: 230
Total Value of HF Holdings: $29.3 Billion

The number one best social media stock to buy now is Facebook. With over 2.45 billion monthly active Facebook users registered as of Q3 2020, the social media website has become the world’s biggest social media platform. The company allows users to connect through mobile, computer, smart devices, and alike. It enables users to share opinions, photos, and activities online. FB was mentioned as one of the Top 10 Stocks Americans Searched the Most in 2020. An insider recently purchased 154 shares at around $181. The stock is up more than 49% since then.

Wedgewood Partners mentioned in an article that continued pressure from politicians and regulators keept Facebook’s earnings multiple in check.

“Facebook reported 32% growth in constant currency ad revenue, along with expectations for 50-55% growth in expenses as the Company continued with their telegraphed plan to accelerate investments in privacy and security across their social platforms. The Federal Trade Commission (FTC) also approved a $5 billion fine for violating a 2012 FTC order by misrepresenting users’ ability to control data privacy. While this removed an overhang dating back to early 2018, continued pressure from politicians and regulators kept Facebook’s earnings multiple in check.”

Please also see 14 Best Internet of Things Stocks to Buy Now and 10 Best Data Center Stocks to Buy Now

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