PayPal Holdings (NASDAQ: PYPL) and Snap (NYSE: SNAP) are hugely popular among retail investors, ranking among the top 100 widely held stocks on the Robinhood trading platform. Their spectacular growth rates and digital business models draw traders like moths to a flame — and they both look set for long-term success in the post-pandemic economy.
Let’s dig deeper to find out why these are two hot growth stocks to buy right now.
The world is going digital, and mobile payment platform PayPal is set to benefit from this megatrend. The company saw its revenue surge by 21% year over year (to $21.5 billion) as the coronavirus boosted demand for e-commerce and online payments. It can maintain its momentum by pivoting to synergistic opportunities such as cryptocurrency.