Best Gig Economy Stocks: Which Should You Invest In?
Written by
Chris Adam
Edited by
T. Woods
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The gig economy probably comes to mind most often when you’re thinking about getting some food delivered or picking up a ride. That makes sense considering that, according to InvestorPlace, the gig economy reached a value of more than $455 billion in 2023.
But what about using the gig economy to improve your financial picture when it comes to investing? Now might be a good time to look as more people are expected to turn to the gig economy as a growing number of employers require workers to return to offices. If you’re ready to start looking at gig economy stock options, there are a few big names you might want to look at first.
Uber
Let’s start with arguably the biggest and most familiar name in the gig economy. You probably have gotten a ride from Uber at some point. Uber also provides income for a variety of workers — from those giving rides to those making deliveries.
Given its pretty stable popularity in recent years, Uber may be a good place to start when it comes to considering gig economy stocks. It may have had some rough times in the past, but last year was very different. Uber reported a net income of about $458 million in 2023 after some rough times the previous years. According to InvestorPlace, “Those metrics provide the argument for investing in Uber, which is a big part of the gig economy.”
Fiverr
If you’re not sure about Uber, another sector of the gig economy may be a better fit. Some stock options to look for concern gig workers who want to use their skills outside the confines of a 9 to 5 job. One of the biggest names here is Fiverr.
Fiverr is a freelance marketplace full of professionals offering a variety of services. Why is Fiverr such a hot stock in this area? According to The Motley Fool, beyond Fiverr seeing growth and expansion, it is a good stock pick because more buyers are coming to the platform and they’re spending more.
Upwork
If you’ve heard of Fiverr, you’re probably familiar with Upwork. The two platforms are quite similar. While there are some differences, Upwork also is a place for freelance professionals to connect to work.
Both Fiverr and Upwork may be good places to invest as they’re in the early stages of profitability. And with the gig economy expected to continue to see growth, Upwork and Fiverr are strong platforms in a sector poised to see even more expansion.
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