There are stocks, which always have a special place in the millionaire investor’s portfolio. Mastercard and Pinterest are the sweethearts of the stock market.
Last week the two major stocks jumped to record highs, forming an incredible match made in heaven!
If you’re a committed long-term investor with cash to spare, consider these stock market sweethearts.
Like many other growth stocks, Mastercard has bounced back after the coronavirus hit the markets last March. The giant in payment processing closed the second half of 2020 with a 20.7% gain.
The company started the new year with better than average results, which caught investor’s interest right away.
Investing in Mastercard seems like a winning long-term bet given the continued growth of the U.S. and global economy. As you probably know, Mastercard generates revenue based on the amount of payment volume navigating its network. And as long as business and consumers are spending more, its profitability will grow even higher.
Surprisingly, card-based transactions currently account for only $30 trillion of all payments, while cash and checks still represent more than double this figure, at $68 trillion. That means Mastercard has a lot of room to grow its payment card business.
Nothing says it better like 459 million monthly active users posting about everything that interests them. That is why social media sweetheart Pinterest is a stock you will want to hold tight and never let go.
In 2020, during the lockdown, most people turned to the internet for entertainment. That was the time when Pinterest blossomed.
The company added a net of 124 million (37% year-over-year growth), with more than 90% of these new net additions coming from outside the U.S.
But that is not all! The company is expanding its business even more with its partnership with cloud-based e-commerce platform Shopify. You will not go wrong if you put your money into this company with a bright future.