Fiverr Stock Has Surged 740% So Far in 2020: Is It a Buy for 2021?

Fiverr (NYSE: FVRR) stock is up 740% on the year with just a few days left in 2020. In spite of the massive increase in value, though, this is still a relatively small company with a market cap of just under $7 billion. COVID-19 is reshaping the global economy, and remote work is turning into self-employment and freelance gigs for many people. That trend has serious momentum, and Fiverr looks like a top way to bet on it.

Faced with layoffs and a new remote-work dynamic, tens of thousands of Americans have turned to self-employment during the pandemic in 2020. In fact, according to data compiled by the Federal Reserve Bank of St. Louis, a record 1.57 million new business applications were filed in the U.S. during the third quarter of 2020 alone. And U.S. Census Bureau data indicate the pace is far from easing, with nearly 85 million applications filed in the second-to-last week of the year.

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Source Fool.com