Looking to Build Wealth? Buy This Growth Stock
Growth investing can significantly enrich shareholders over the long haul. The key is to pick well-run businesses in the relatively early innings of their growth cycles.
Having parlayed a $5,000 investment in 2013 into $22,400 today, the discount retail chain Five Below (NASDAQ: FIVE) is a quality growth stock. For instance, this is marginally better than the $21,500 that the same investment amount put into the Nasdaq Composite 10 years ago would now be worth. And Five Below looks like a smart buy for growth investors. Let's dive into the company's fundamentals and valuation to see why.
Selling popular and high-quality clothing, toys, and games to a base of tween and teen customers at price points mostly between $1 and $5 has paid off for Five Below. In its 21-year corporate history, the company has steadily grown throughout various economic downturns, including the Great Recession and the COVID-19 pandemic.
Source Fool.com
