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Gig Economy Shares: 3 Most Popular Names To Buy As Year Ends Approach

The concert economy stocks are booming even as we emerge from the global pandemic. With a record number of people worldwide leaving their jobs, many rely on self-employment to replace or supplement their income.

And trends indicate that so-called “side activities” are gaining popularity among a restless and disrupted workforce.

On the contrary, the pandemic has given people time to reflect on work and careers and reassess their priorities. More and more, people seem to prefer to be their own boss, set their own hours and make money on their own terms, which is the raison d’être of the odd-job economy.

This, of course, is good news for companies driving the odd-job economy forward. Here’s a list of the three hottest stocks in the gig economy to buy before the end of the year.

  • Fiverr (NYSE:FVRR)
  • Airbnb (NASDAQ:ABNB)
  • Uber Technologies (NYSE:UBER)

Concert economy stocks to buy: Fiverr (FVRR)

Source: Temitiman /

With its stock price nearing 50% of its 52-week high, independent service provider Fiverr’s stock is a big buy right now. Since peaking at $ 336 per share in February of this year, FVRR stock has fallen 47% to now trading at $ 178.

The drop is due to the fact that Fiverr has been bundled with other pandemic stocks and the idea that the demand for its online marketplace for freelancers to offer their services to clients around the world will diminish as the economy will reopen and people will return to their old work habits.

However, the company’s financial data indicates that this view is a misconception.

The Tel Aviv-based company just posted windfall profits in mid-November, saying its revenue for the quarter was $ 73.3 million, a 42% year-over-year increase on the other. Third-quarter results also showed that the company’s active buyers now total more than four million, and the average spend per buyer is up 20% to $ 234.

Fiverr’s earnings report exceeded analysts’ expectations and the company’s own forecast across the board. Fiverr also recently completed the acquisitions of Attract talent and CreativeLive, and launched Fiverr Workspace which aims to improve the experience of freelancers on its platform.

The median FVRR share price target is currently $ 213 per share, which would represent a 20% increase from where the shares are currently trading.

Airbnb (ABNB)

Gig Economy Shares: 3 Most Popular Names To Buy As Year Ends Approach

Source: AngieYeoh /

Airbnb appears to be back after suffering a steep drop during the global pandemic. After its successful initial public offering (IPO) last December, shares of ABNB languished in the spring, with its share price falling to $ 121.50. However, the stock has gained 56% in the past six months to now trade at $ 206.52.

Analysts seem confident that the stock may retest and even surpass its all-time high of $ 220 per share in the coming months. The rebound is largely due to strong bookings from host families and Airbnb accommodation. Airbnb reported 79.7 million nights and experiences booked in the third quarter, a 29% year-over-year increase.

Additionally, Airbnb reported that in the third quarter, profits grew at an annualized rate of 280% and the company posted its highest revenue and net income on record. The company’s adjusted EBITDA in the third quarter was $ 1.1 billion, up from 37% last year and 19% in 2019.

Airbnb had $ 1.8 billion in cash at the end of its last quarter. These kinds of numbers are the reason why ABNB stock has jumped in recent months. And the company sees bright days ahead as pandemic restrictions continue to be relaxed around the world and international travel ramps up.

Stocks in the economy to buy hot: Uber (UBER)

Gig Economy Shares: 3 Most Popular Names To Buy As Year Ends Approach

Source: TY Lim /

Shares of rideshare and food delivery company Uber have chronically underperformed since the company went public in the spring of 2019. However, there is reason to believe that better days are ahead for the market. San Francisco-based company.

Bank of America (NYSE:BAC) recently gave UBER stock a “buy” rating after the company reported its first profitable quarter in its history. Uber’s third quarter results showed operating profit of $ 8 million, which surprised the markets.

Uber also announced a 57% annual increase in its gross bookings, as well as a 39% increase in trips taken in the third quarter. The company’s $ 8 million profit was up from a massive loss of $ 507 million a year ago at the height of the pandemic.

Going forward, Uber has announced that it has restarted its “shared drives,” where strangers share a car ride together, under a new banner called “UberX Sharing”. Carpooling between strangers had been interrupted at the height of Covid-19. The news of the resumption of carpooling was enough to push up the UBER stock by 5%.

The company’s share price has climbed 3% overall in the last week of trading and is now changing hands at around $ 45 per share. While Uber shares are still down 13% year-to-date, there is reason to believe the company has turned a corner and its business is back on track as the pandemic slips into the rearview mirror.

At the date of publication, Joël Baglole did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of

Joel Baglole has been an economic journalist for 20 years. He spent five years as a reporter for the Wall Street Journal and also wrote for The Washington Post and Toronto Star newspapers, as well as for financial websites such as The Motley Fool and Investopedia.


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