A long-term bet on the gig economy
Shares of online freelancer employing platform Upwork tumbled in March, as Wall Street stressed that an economic slowdown would prompt organizations cutting temporary workers and freelancers. In May, however, as the business picture has become clearer, Upwork's shares took off. The stock is up over 15% for the year. software freelance Why it could beat: More than 36 million individuals have recorded initial unemployment claims over the last two months. A few analysts are worried that many permanent, full-time employments may not return quickly...if ever. That could help demand for short-term freelance employees, as organizations try to briefly fill knowledge and experience gaps. It also ups the probability that job seekers will go to Upwork to search for freelance and agreement based gigs while they search for something more long-lasting. Why it's trading under $13/share: Despite consistently increasing revenue since it opened up to the world in 2018, Upwork ...