7investing advisor Matthew Cochrane's Top Stock for May is a payments company driven by several macro trends, including contactless payments, e-commerce, and mobile technology.
May 1, 2020
The coronavirus pandemic is just the latest catalyst for the war on cash, as consumers turn to contactless payments to lessen their chances of unnecessarily exposing themselves to health risks.
7investing advisor Matthew Cochrane’s Top Stock for May benefits from the same trends driving digital payments and has a proven track record of growing revenue while sporting high margins, and has consistently given shareholders market-beating returns.
Hi, I’m Matthew Cochrane, lead advisor at 7investing.
The coronavirus pandemic will certainly change a lot of behavior, some of which will be temporary and some of which will be of a more permanent nature. One trend which was already happening, but which I believe will now accelerate, is the war on cash.
Yeah, I’m talking about dirty, filthy, germ-covered, cash, meaning any physical form of currency, like dollar bills or change. This crisis made us all more aware of the things we touch and how we interact with the physical world around us. Because of this, I believe most people will start doing anything to lessen their chances of unnecessarily exposing themselves to health risks.
One way this is easily accomplished is by switching to contactless payments. Juniper Research believes global contactless payments will triple from $2 trillion this year to $6 trillion by 2024.
Contactless payments is just the latest trend acting as a tailwind for the war on cash. It joins other macro trends such as e-commerce and mobile technology driving the growth of electronic and digital forms of payments.
My top stock pick this month is one of the few companies poised to take advantage of all these trends. This company has a proven track record of showing revenue growth rates of double-digits while sporting high margins, and has consistently given shareholders market-beating returns.
If you’re interested in my stock pick this month, click the link at the end of this video or visit 7investing.com. For just $49 per month you will gain access to all 7 of our stock recommendations each and every month.
It’s a scary time to be investing in the stock market. But not only does each 7investing advisor have experience in investing, we also have public track records of beating the market over the long term. While terrifying, we believe that the violent volatility this stock market has shown over the two months has given investors a chance to invest in companies that are taking short-term hits but will still succeed over the long term.
I’m Matthew Cochrane. We’re 7investing, and we’re here to empower you to invest in your future.
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