1 Stock That Turned $2,400 Into $1 Million
Building a $1 million position in a stock isn't as hard as you might think, and it doesn't require a huge initial investment. However, you'll still need two key ingredients: time and solid, consistent returns. Find a business that can steadily build market share and earnings power over several decades, and you've got a great shot at seeing life-changing levels of gains.
You don't need to own highly speculative tech stocks to see this type of growth, either. There's a retailer, in fact, that has helped create many millionaires since its initial public offering in 1985. With $2,400 invested in the stock at its IPO price, you'd have over $1 million today (not including dividends). Read on to see which retailer made this impressive feat happen, and how the chain has continued setting records in 2024.
The retailer in question is none other than Costco (NASDAQ: COST), which went public in Dec. 1985 at an IPO price of $10 per share. Adjusting for stock splits, that IPO price was approximately $1.67 per share.
Source Fool.com
