Cheap Stocks To Buy Now? 5 Communication Stocks To Watch

5 Communication Stocks For Your Mid-June 2022 Watchlist

Communication stocks have had their fair share of struggles over the past year. For starters, the communication sector not only comprises telecommunication services and media, but also includes the likes of social media, streaming, and online gaming. Understandably, sentiments around the sector have been lackluster as companies in this space experience a slowdown in growth following the pandemic. This is in addition to general market weakness as a result of inflation and interest rate hikes. Nevertheless, some of the top names in the industry are trading at very intriguing price points. So, it may not be the worst idea to keep a close watch on top communication stocks today. 

Elsewhere, T-Mobile (NASDAQ: TMUS) recently announced that it can aggregate three channels of mid-band 5G spectrum. As a result, it could reach speeds of over 3 Gbps on its standalone 5G network. In fact, it is the first time the test has ever been done with a commercial device on a live production network. Overall, the communication industry will likely continue to evolve and grow with time. So, here are some of the top communication stocks in the stock market today. 

Communication Stocks To Watch Right Now

Roblox

First, let us look at the technology communication company, Roblox. In detail, the company operates a human co-experience platform. Through its Roblox Platform, users can interact with one another to explore and develop, user-generated, and 3D experiences. Every day, millions of people leverage the platform along with their friends to enjoy immersive digital experiences. 

Yesterday, the company reported its key metrics for May 2022. According to Roblox, its daily active users improved to 50.4 million, up 17% year-over-year. Also, the hours engaged were 3.6 billion, an increase of 10% year-over-year. Meanwhile, its revenue for the month is estimated to be around $194 million and $197 million, representing an increase of 28%-30% compared to the same period last year. Given such an encouraging development, should investors be paying more attention to RBLX stock?

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Roku

Over the past week, there has been plenty of noise around Roku. For those unaware, Roku is a company that operates a television (TV) streaming platform in the U.S., Mexico, and Canada. Besides that, it also has products such as Streambars, Roku wireless speakers, Roku TVs, and Roku Wireless Subwoofers. Now, most of the attention around the company is due to rumors suggesting that Netflix (NASDAQ: NFLX) has an interest in acquiring Roku. That said, there has been no official source that could confirm nor deny these speculations. 

Earlier this month, the streaming giant announced the launch of Espacio Latino, a new destination for the U.S. Hispanic audiences. This offers a wide collection of programming geared toward Spanish speakers on The Roku Channel. Overall, this is an exciting step forward for the company as it aims to create a unified Spanish language experience for millions of streamers to enjoy. All things considered, would you add ROKU stock to your watchlist?

Verizon

As far as telecommunication services go, Verizon is a force to be reckoned with. The company, through its subsidiaries, provides communications, information, and entertainment products and services to its customers. Most notably, its wireless services are provided across wireless networks in the U.S. under the Verizon brand. As an undisputed name among telecommunication companies in the U.S., it should not be surprising that investors would always have a tab on VZ stock. 

Furthermore, Verizon announced yesterday that it will be teaming up with Mastercard (NYSE: MA) and First National Bank of Omaha. The collaboration aims to launch a credit card designed to bring value to small business owners. Therefore, existing Verizon Business wireless customers with less than 100 lines will be eligible to apply for the Verizon Business Mastercard. With it, there will be rewards for purchases on everyday business expenses such as technology, fuel, and others. With that in mind, would you consider VZ stock a top communication stock today?

Pinterest

Newer forms of communication services today include various forms of social media. And, this is where Pinterest comes into the picture. Well, quite literally, as Pinterest is a visual discovery engine company that allows people to discover and personalize visual content. It is noteworthy that Pinterest recently announced the acquisition of THE YES. For the uninitiated, this is an AI-powered shopping platform for fashion that enables users to shop through a personalized feed. 

In the coming months, Pinterest plans to sunset THE YES app and website to allow both teams to focus on technology integration and evolve the company’s shopping vision. This new addition will likely accelerate Pinterest’s vision for it to be the home of taste-driven shopping. In late April, the company announced its first-quarter results. In brief, quarterly revenue rose 18% year-over-year, while net loss decreased 76%. As such, would you be watching PINS stock? 

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DoorDash

To sum up the list, let us look at the logistics platform company, DoorDash, which is notable for its food delivery services. Essentially, it connects merchants, consumers, and dashers through its platform. The company’s business is separated into Marketplace and Platform services. On one hand, DoorDash Marketplace enables merchants to establish an online presence and expand their reach to consumers. On the other hand, its Platform services business includes DoorDash, which offers a white-label logistics service, and DoorDash Storefront. 

DoorDash started the month of June by announcing that it has completed the acquisition of Wolt Enterprises Oy. As a result, the company now has a total of 27 countries including the U.S. Moving forward, Wolt CEO Miki Kuusi will be in charge of the combined company’s team and operations outside of the U.S., while reporting to DoorDash CEO Tony Xu. Safe to say, this new development will likely accelerate the company’s international growth through faster product development and improved investment efficiency. Keeping that in mind, would you consider investing in DASH stock today?

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