Are These Top Communication Stocks On Your August Watchlist?
Communication stocks generally refer to companies that focus on digital services. This could be anything from video creation, e-commerce, video games, television, and more. Digital services have become more relevant in recent times because of the ongoing pandemic. So many top communication stocks have been able to survive much better than other sectors. Numerous communication stocks have reached new heights in the market or come close.
Investors have been looking at a variety of different communication stocks since the pandemic began. One of the companies we are going to look at in this article is a video game creator. Video game stocks have been on the rise for a while in society, and the pandemic has boosted that. Television is also being watched much more than it normally would be.
All of these are contributors to the rise of communication stocks in recent months. There is countless good communication stocks to have a look at in the market. This ever-growing sector is showing lots of good momentum in recent times. Now it is time to look at two communication stocks that are trending in the market as August 2020 comes to a start.
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Top Communication Stocks To Buy [Or Sell] In August 2020: HUYA
The first communication stock to discuss is HUYA Inc. (HUYA Stock Report) due to its rise after the pandemic started. HUYA was founded in 2014 and is a China based company. HUYA focuses on video game live streaming platforms in China. Its services allow streamers and viewers to interact with each other. People can stream any games whether its computer, console, mobile, and more. One of its subsidiaries is Nimo TV, which is a game streaming platform used in Southeast Asia and Latin America. The company additionally advertises and runs marketing services too.
The price of HUYA stock was at around $20 a share back in February before things turned bad in the world. There was a dip of HUYA stock price in March that brought it down to around $12 a share on average. Well as of August 5th, HUYA stock has now reached $27.67 a share on average. This places HUYA stock price 130.58% higher than its low back in March. On August 4th, HUYA stock was at $25 a share on average.
When the 5th came around, Tencent announced that it wants Huya and DouYu, another streaming platform, to merge. That is why HUYA stock rose by more than $2 overnight. Tencent (TCEHY Stock Report) has more than a one-third stake in both of the live streaming platforms. A merger like this could create a lot of momentum for HUYA stock. That is why HUYA stock is a potential communication stock to buy.
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Top Communication Stocks To Buy [Or Sell] In August 2020: Charter Communications
The next communication stock to watch is Charter Communications Inc. (CHTR Stock Report). Charter Communications focuses on telecommunication and mass media. Charter has become the second largest cable TV company in the United States based on subscribers. Charter Communications is also the fifth largest telephone provider based on subscriber counts. The company has managed to be the third largest paying TV operator as well. Charter managed to bring in more than $43 billion in revenue back in 2018.
On July 30th, CHTR stock price was at around $563 a share on average. Since then, CHTR stock has increased more than 6% to $599 a share on average as of August 5th. This comes after Charter announced a gain in video subscribers that shocked analysts. Before this pandemic struck CHTR stock price was at $539 a share on average. Then CHTR stock fell down to $371 a share at a low point in March.
Bottom Line
The recent increase in CHTR stock price has shown investors that it could be a viable communication stock to watch. The same goes for HUYA stock, which is performing very well in the market. If these communication stocks are able to keep up this momentum then investors will potentially make a profit. That is why CHTR stock and HUYA stock are two potential communication stocks to buy going into August 2020.
