A few months ago, financial experts started sharing their predictions for the stock market due to the coronavirus pandemic. There was a significant dip in many popular stocks, and investment gurus warned that this was a good time to pay attention to stocks that remained stable over a long period of time. Since then, the S&P has risen more than 45%. Some high-quality stocks have gone up even more than 45%. This is an indication that investors are taking the advice of experts and shows that some stocks will always be more reliable than others.
It’s highly probable that we’ll experience a second wave of COVID-19 and Wall Street is concerned about this financial forecast. However, all is not lost when it comes to restoring the economy. People are sitting at home shopping online and businesses are doing all they can do stay afloat. This means that companies and consumers are doing all they can to maintain some form of financial normalcy during the pandemic.
With all of this in mind, you may want to know the best sectors to invest in 2020. According to the experts at Money Morning, “Keith’s last ‘Unstoppable Trend’ – and our top sector – is Technology. This might not be a surprising pick, but Keith says many investors, unfortunately, don’t know how to play this sector.” With that being said, tech is one of the best sectors to invest in this year, so are a few stocks worth investing in.
Shopify is a popular e-commerce solutions company. It’s safe to invest in this company long-term because Shopify has become a necessity for online retailers.
It’s no secret that many shoppers are migrating to online shopping. This was the case before the pandemic, but purchasing items and services on the Web is even more common now. Modern businesses need a website for selling their products the same way businesses in decades past needed a physical storefront. And Shopify creates the websites companies need to stay in business. The company is among the best in the world when it comes to commerce website creation, and provides business owners with effective online selling tactics.
Okta is a cloud security company that offers a new and improved way to ensure that online workflows and info are safe. This means the stock is likely to perform very well over the next few years.
Okta is a cloud security solution based on identity so every member of the company has an online “armor” that makes it safe to work remotely or in-office. The company has become a huge hit with businesses of all sizes and makes company owners and team members feel more at ease when working from home, which is a requirement for many businesses during this time.
Popular image-based search platform Pinterest shows lots of promise when it comes to long-term investment, particularly in the next few years. Currently, more than 300 million people use Pinterest. While this number is impressive, it doesn’t help the company much from an advertising standpoint. In the coming years, Pinterest will develop its ad business and offer advertisements for shopping, travel, and crafts, since the visual representation of these purchases are popular on the site. These are the few of the best stocks to invest in 2020 whether you’ve been investing for years or are new to the stock market. It’s important to keep up with financial trends and learn about new companies that emerge to see if there are additional investment options that would be suitable for you.