Long-term investing is the key to sustainable returns in the stock market. And while millennial-friendly trading app Robinhood is stereotyped by some as a platform for risk-hungry speculators, some of its most widely held stocks are poised for long-term success. Let’s explore the reasons why two of them — PayPal Holdings (NASDAQ:PYPL) and Amazon (NASDAQ:AMZN) — are good enough to buy and hold forever.
PayPal: Developing new growth opportunities
Mobile payments are popular — especially among young people. Consulting group McKinsey estimates that 91% of all millennials have made a mobile payment in the last year, so it’s no surprise that PayPal’s stock gets a lot of attention on Robinhood. The fintech giant is poised for continued success as it invests in innovative products like Venmo that can unlock new growth opportunities.
PayPal’s long-term strategy relies on the digitization of the global economy and the increasing