TaaS allows car enthusiasts to enjoy the benefits of cars without having their own car. There are many excellent examples of TaaS that have gained a lot of popularity in recent years.
Rideshare services like Uber and Lyft are some of the best examples of TaaS because they are offering affordable rides for people who don’t have a car. Other examples of TaaS include various car services like car rental services and car subscription services.
New technologies have offered various forms of transportation and this is why Taas industry is growing so significantly. Now is a great time to invest in these companies. Transportation will always be an essential part of our lives and the Taas industry is going to grow indefinitely in the future. Here are our picks for the best TaaS stocks that are currently on the market right now.
Best TaaS Stocks
Uber Technologies Inc. (NYSE: UBER)
Uber was the first company that caught the attention of people in the United States. They initially launched in San Francisco in 2011 and offered high-end taxicabs but then later launched affordable services.
Uber give consumers an easy way to get around, and also gave people an opportunity to earn money part-time. The company is offering services in several countries around the world.
The company has launched other services like UberPool and UberEats. UberEats provides local food delivery options around the world. Many people have been concerned about the way Uber treats their independent contractor drivers.
Uber stock has been trading since November 2020. The contractor status of drivers has caused a little dip in the stocks of Uber. This is an excellent time to buy during the dip.
Lyft Inc. (NASDAQ: LYFT)
Uber and Lyft cars
Lyft is another successful company that is an alternative to Uber. The two companies offer similar services. The company started to offer longer distances rides but later provided all kinds of affordable services to people. They offer a variety of vehicles.
As consumers are getting their vaccinations, they are taking rides more often. Many users have noticed that the rides are becoming more expensive. The price increases on both Lyft and Uber have been seen in the past few months. Lyft’s shares have increased over 64% and are showing an upward trend.
TaaS Stocks To Buy
FedEx Corporation (NYSE: FDX)
FedEx is a well-known and popular transportation and delivery company. The company started back in 1971 and has expanded globally. The company offers different means of transportation across the land, water, and air.
FedEx has its own aircraft and has over 700 aircraft alone at its disposal. As people need deliveries during the pandemic, FedEx has been making a lot of profit in the past 2 years. As a result, the company earned around $70 billion in 2020 and their share price has increased to 25%. The company has been offering benefits to the shareholders through dividends and is giving $0.75 per share to both Q2 and Q3 of this year.
DoorDash Inc. (NYSE: DASH)
DoorDash is a food delivery service based in San Francisco. Food delivery services have become popular over the last year as many people prefer home delivery during the pandemic. The customers love to enjoy meals from their favorite restaurants at home.
While there are many other food delivery services DoorDash currently has the largest market share. The company works with various restaurants and has expanded into working with several convenience stores. They also deliver essentials and groceries for their customers. DoorDash stock is fluctuating for the past year. Their recent earnings report seemed promising.
Some investors were concerned whether DoorDash would lose traction after the pandemic, as restaurants will be opening in-person dining. The food delivery was high on demand for this year. DoorDash has established itself as an important part of the TaaS industry.
TaaS Penny Stocks
Hertz Global Holdings (OTC: HTZZ)
As global car ownership rates are decreasing, the demand for car rentals is increasing. Hertz is a large car rental company based in the United States. They offer car rentals through major airports and offer services to short-term travelers.
Hertz stock struggled during the pandemic as customers were not renting cars. Many people are finally traveling again and are renting cars. Hertz has also struggled financially and has opted to restructure the company.
The company has come out of bankruptcy and will resume growth shortly. This is exciting for investors who want the company to move financially forward. The company is a good choice for investors.
TaaS Technology Stocks
Virgin Galactic Holdings Inc. (NYSE: SPCE)
Virgin Galactic is owned by Richard Branson’s Virgin Group. Space tourism seemed impossible, but as technology has improved, it is becoming a reality. Virgin Galactic is a satellite and are contributing to future space travel since 2004.
The company took its first passengers into space and is planning to grow in 2022. Right now, Virgin Galactic has high-reward stock. Space tourism will work and make money in the long term. However, their position as a leader is becoming possible due to space tourism, Virgin Galactic is also developing supersonic aircraft.
Supersonic travel is environmentally friendly. This means customers can travel to New York to Paris or Los Angeles to Tokyo in a few hours. Virgin Galactic stock has increased up to 50% from last year.
Is it a wise choice to Buy TaaS Stocks?
There are plenty of great reasons that make it a great choice to invest in transportation as a service right now. TaaS has gained a lot of popularity during the last few years, and the industry has long-term potential. Getting the best stock picking service is the key if you want to diversify your portfolio. If you are interested in investing, you should consider subscribing to this publication. You’ll never be disappointed with the insights it has to offer.
Cars are costly to purchase and maintain. Many people are opting to maintain a frugal budget. Climate change and vehicle emissions have convinced many consumers to limit their car use.
TaaS Stocks: Final Thoughts
TaaS is a growing industry and it could completely change in the long run. The looming threat of climate change has contributed to the promotion of the development of new transit options.
TaaS service allows the consumers a lot of convenience of using a car without harming the environment. Investing in this industry will allow the investors to enjoy getting strong returns in the future.