But developers are always working on new platforms, and it's only a matter of time until an underdog sticks in the mainstream. These new social media stocks are proving that.
New social media stock is leveling the playing field
Believe it or not, Zoom is its own kind of social media. This video chat software has made communicating during the COVID-19 crisis so much simpler, and Zoom stock ("ZM" on the Nasdaq Exchange) has reaped the reward of a job well done. It's only been public since March 2019. Year to date, the stock has risen 411.34 percent—and while new investors may have missed the starting gun, it's not too late to collect a solid long-term return.
On Robinhood, So-Young International, NetEase, and Momo are at the top of the analysts' buy list. These new stocks could be worth looking into in the short-term.
The next big social media stock is on its way
Roblox is a major social gaming platform that's going public in early 2021. The company wanted to wait until the wave of overpriced IPOs (they were likely referring to IPOs from Doordash and others) was well behind it, so they wouldn't have to suffer from an unstable market.
While Roblox may not sustain the rapid growth it has seen in 2020 (we're talking a 68 percent boost in revenue boost and 82 percent increase in users), the platform will continue to grow in different ways. For investors, this upcoming IPO may be one worth betting on for the long haul.
Other, more seasoned social media stock to buy
Weibo, Momo, Groupon, and Yelp have all been public for years. However, all of them are in the red compared to the start of the year. While they may not seem like an interesting choice, investors often buy the dip to increase their returns. Diversifying in this way could strengthen the average investor's overall portfolio.
While the blue-chip companies feel like an obvious jump, it's worth considering the future of these platforms. Facebook in particular has seen some trouble this year, especially surrounding data privacy. Since the onset of the Apple iOS 14 update, they have seemed rather desperate to protect their $70 billion in ad revenue (most of which comes from small businesses). Investors may be better off holding securities for TikTok, Snapchat, and Pinterest.
Don't hold your breath for Vero social media stock
For a social media platform that shuns ads, data mining, and algorithms, Vero has done pretty well for itself. All things considered, don't expect an independent market debut anytime soon.
Does Parler social media have a stock symbol?
Parler, a largely conservative "free speech" social media, doesn't have a stock symbol because it isn't publicly traded. Ever since Parler's big pre-election boom, the platform's ratings have been on a decline—so it's unclear whether it will be able to keep up the momentum it once had long enough to go public.
CEO John Matze hasn't made any remarks that reflect a desire to go public, so don't hold your breath for a Parler stock symbol.