Where to Invest $1,000 Right Now
Have $1,000 lying around that you want to turn into more? Maybe you've just received your stimulus check from the U.S. Treasury, and you know that recessions tend to be fantastic times to buy stocks for the long term. Well, you're right. Invest your $1,000 in these three stocks right now and you could reap rewards over time.
Spotify (NYSE: SPOT) is the world's largest music and audio streaming company, with a presence in 79 markets (soon to be 80 with the launch in South Korea). As of the end of last year, the company had 271 million monthly active users (MAUs), including 124 million paying premium subscribers. Those figures grew 31% and 29%, respectively, last year.
What's special about Spotify is how much it dominates its industry despite having certain characteristics of a commodity-based business. In other words, every music streaming service basically has all the same songs. So why is Spotify so much more popular than every other service?
Source Fool.com
