Looking for a steadily growing blue chip stock to add to your portfolio? Well the people over at Investopedia have a good idea of where to put your hard earned cash; Mastercard (MA).
“MasterCard has been able to deliver consistent growth over the years, and that alone can be reason enough to pay a premium for the stock. Additionally, MasterCard has many years of solid growth ahead of it, as the number of digital buyers continues to surge. According to the website Statisa, the number of people shopping online is forecast to grow by nearly 30 percent. to 2.14 billion in 2021, from 1.66 billion in 2017.”
The growth of online shopping has been a major reason for the growth of credit cards companies as well as online financiers over the past few years. Investopedia adds that “Over the long term, MasterCard is positioned to continue to grow. The company is a key contributor and component in the global e-commerce space that is trending toward a cashless society. (See also: Credit Cards and the Cashless Society.)”
In a world with such a volatile market, a steady grower like Mastercard can be a solid asset to give your portfolio some extra stability. Look to pick up some shares soon before the momentum sets in and the stock really takes off.
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