Social media is a fast growing market that Goldman Sachs expects to double to $480 billion by 2027. To take advantage of this trend, many invest in the obvious social media stocks like Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) or Meta (NASDAQ:META).
However, these companies are trading at all-time highs and there is no way to know if they are overvalued. When planning for one’s retirement, investing in hot stocks of the day is too much of a gamble.
Personally, I like to look for social media stocks that are already dominating their respective markets. It also doesn’t hurt if they can pay dividends shortly and are reasonably or undervalued.
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