2 Growth Stocks Capitalizing On The Gig Economy To Buy In 2020
Freelancers account for 36% of the American workforce, according to a recent study by Edelman Intelligence. Freelancers are also referred to as consultants or contractors. Some do it on the side while also employed at a full-time job, others freelance as their full-time job, and some freelancers only work part-time. McKinsey, a U.S.-based consulting firm, projects that 50% of the American workforce will be freelance by 2027. Freelancers who have in-demand skills like data analytics, machine learning, and programming can charge high rates and have flexibility, which will increase the demand for gig economy marketplaces.
A sweet spot in the gig economy is to act as a matchmaker, connecting freelancers to clients looking for temporary or permanent assistance with projects. The main freelance work platforms in this space are Upwork (NASDAQ: UPWK) and Fiverr (NYSE: FVRR). Both of these tech stocks are trading at lower prices from their 52-week highs, are small-cap growth companies, and have minimal debt. Investors seeking exposure to the gig economy should consider buying these today.
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Source Fool.com
