4 Trending Communication Stocks To Consider Buying [Or Selling] In the Stock Market Today
Communication stocks are among the most discussed names in the stock market now. They range from companies that sell internet services to social media and news outlets. In fact, most of the top names in the industry are likely companies you are well versed with. Whether it’s Fox Corporation (NASDAQ: FOXA) or Netflix (NASDAQ: NFLX), these are some of the most popular communication stocks out there. Well, the latest rumor within the communication space right now would involve one of the social media giants, Pinterest (NYSE: PINS).
It appears that PayPal Holdings (NASDAQ: PYPL) is exploring a $45 billion deal to acquire Pinterest. This further solidifies Paypal’s ambitions to be a “super app” as it intends to push its boundaries beyond a mere online checkout button. Well, investors are responding well to this news as PINS stock surged by 12.77% on Wednesday’s trading session. If the deal materializes, it would potentially be the biggest technology deal of the year. Considering all these, do you think the communication industry poses lucrative opportunities? If you believe so, here are four top communication stocks in the stock market today.
Best Communication Stocks To Watch In The Stock Market Today
- Twitter Inc (NYSE: TWTR)
- Facebook, Inc (NASDAQ: FB)
- Genius Sports Ltd (NYSE: GENI)
- T-Mobile US Inc (NASDAQ: TMUS)
First, let us look at the social media giant, Twitter. As most of you may be aware, Twitter is a platform for public self-expression and conversation in real-time. Also, the company offers products and services for advertisers, developers, and common users. These include Promoted Tweets, Promoted Accounts, and Promoted Trends. TWTR stock has risen more than 30% over the past year.
Approximately two weeks ago, the company announced that it has entered into a definitive agreement to sell MoPub to AppLovin Corporation (NASDAQ: APP). The deal is reported to be $1.05 billion in cash. With this out of the way, Twitter will be able to focus and accelerate the development of its core products. Meanwhile, it also demonstrates the confidence that it has in its revenue product roadmap that would position the company for long-term growth.
Despite being one of the top names in the industry, Twitter continues to make strides to improve its products and services. Last Tuesday, the company rolled out new ad features and revamped the algorithm that decides which ads users see. This effort is to lay the groundwork for the launching of future e-commerce features. On top of that, the company believes the change will help Twitter to reach its goal of doubling annual revenue by 2023. So, do you share the same sentiment as the company? If so, would you consider adding TWTR stock to your portfolio?Source: TD Ameritrade TOS
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Following that, we have the world’s largest social media network, Facebook. Put simply, the company provides a digital social media platform that allows billions of users to connect with one another. Users share information, ideas, photos, and videos through its platforms and applications. On top of that, the company is also the parent company of WhatsApp, Messenger, and Instagram.
According to the Verge, we may have another name for the company as soon as next week. As the company plans to spend its focus on developing the “metaverse”, it may well announce a change of name to rebrand the company. Facebook will be leveraging augmented reality (AR) and virtual reality (VR) technology to build on its metaverse platform. Well, a rebranding at this point in time would also distract investors from the negative sentiments in relation to whistleblower reports right now.
Furthermore, the company will be announcing its third-quarter earnings on October 25. During the second quarter, Facebook’s revenue grew by 56% to $29.08 billion. This is its fastest growth since 2016. In addition, its daily active users also increased to 2.76 billion, an increase of 12% year-over-year. Many expect the company’s growth to slow down but it has a history of exceeding expectations. With that in mind, would you consider buying FB stock ahead of its earnings?Source: TD Ameritrade TOS
Genius Sports is a U.K.-based company that was founded in 2018. In detail, it develops and sells technology-led products and services to the sports betting, and sports media industries. In addition, the company also provides live sports data collection, pre-game and in-game odds feeds, risk management services, and live-streaming services. GENI stock has risen more than 10% over the past week. So, what could be the catalyst for this movement?
For starters, the European Volleyball Confederation (CEV) has chosen Genius Sports as its official technology partner. As part of the new agreement, all major men’s and women’s CEV competitions will be powered by Genius Sport’s leading suite of scoring, coaching, and competition management solutions. Also, this will drive the sport’s digital transformation for the future. As much as this is a win for Genius Sports, CEV would be the bigger winner as it will benefit from Genius’s leading data-driven solutions and streamlining key processes.
Not to mention, the company also announced a new supplier agreement with PointsBet Holdings earlier this month. Genius Sports will provide its full range of official sportsbook data, content, and fan engagement solutions. Pointsbet is one of the NFL’s Approved Sportsbook Operators. So, Genius Sports will now provide Pointsbet access to the NFL’s official play-by-play statistics, proprietary Next Gen Stats data, and official sports betting data feed. Given these recent developments, would now be a good time to buy GENI stock?Source: TD Ameritrade TOS
Lastly, we have the communication services provider, T-Mobile. Essentially, the company offers voice, messaging, and data services to over 100 million customers around the world. Furthermore, it also provides wireless devices, including smartphones, tablets, and other communication devices. With TMUS stock trading sideways for most of the year, could things be looking up soon?
It appears that T-Mobile customers get the best 5G experience across the board according to new independent third-party experts such as Ookla and umlaut. The Un-carrier’s 5G network won or tied for first in every single measure across the reports, including speed, reach, and reliability. These are game-changing combinations that consumers appreciate and would attract more customers with such statistics in the long run.
On top of that, the company also partnered with T-Labs to launch T-Challenge. This is a worldwide competition for startups, developers, researchers, and designers to submit innovative research and solutions for using 5G networks and extended reality technology to transform retail. With its 5G networks as the foundation, both companies are fueling innovation and building the 5G ecosystem with a number of initiatives. All things considered, would you consider TMUS stock a top communication stock to buy?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.