1 Stock That Turned $1,000 Into $16 Million
The stock market is arguably the best tool people have to build long-term wealth. While the S&P 500 has averaged annual returns of roughly 10% over time, there are some individual stocks that have fared much better.
Home Depot (NYSE: HD), the world's leading home-improvement chain, is a company that's produced astronomical returns for shareholders over the years. A $1,000 investment made when the stock started trading publicly in 1981 would be worth a remarkable $16 million today. This translates to a 27% annual return, crushing the broader market.
Let's find out how this happened.
Source Fool.com
