3 Gig Economy Stocks Wall Street Expects Will Rally by More Than 45% By StockNews

3 Gig Economy Stocks Wall Street Expects Will Rally by More Than 45%

While the recent ruling of Proposition 22 could threaten the gig economy’s prospects in the near term, the gig economy is expected to grow exponentially in the long run with the increasing demand for more flexible working arrangements. So, it could be smart to add gig economy stocks such Uber (UBER), Lyft (NASDAQ:), and Upwork (NASDAQ:) to your watchlist now.Even though the gig economy received a boost during the pandemic, the recent ruling by California Superior Court Judge Frank Roesch that Proposition 22 is unconstitutional could serve a blow to companies capitalizing on the gig economy. Nevertheless, workers’ increasing demand for flexible and contractual work is expected to drive the gig economy’s growth.

According to brodmin’s research and data provided by Mastercard Incorporated (NYSE:), the global gig economy is expected to be worth almost $350 billion in 2021. Moreover, investors’ interest in the gig economy stocks is evident from the SoFi Gig Economy ETF’s (GIGE) 6.4% return over the past month.

So, it could be wise to add gig economy stocks such as Uber Technologies, Inc. (NYSE:), Lyft, Inc. (LYFT), and Upwork Inc. (UPWK) to your watchlist. Wall Street analysts expect them to rally by more than 45% in the near term.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.