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Social media platforms gained immense popularity during the height of the COVID-19 pandemic because people were forced to physically distance themselves from others and turned to social media as a means of staying socially connected. The adoption of social media platforms is still increasing for entertainment purposes and to stay connected with people worldwide for business, education, health, and other works that can be done virtually. 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 expect quality social media stocks Snap Inc . (NYSE:SNAP), Twitter, Inc. (TWTR), and Bumble Inc. (BMBL) to gain significantly in the near term. Therefore, we think these stocks could be solid additions to one’s watchlist.
