Obscure Firm Taking Latest Bull Market by the Horns
There are a number of factors that influence whether a particular stock skyrockets or takes goes into a tailspin. Things like the geopolitical situation, economic growth or lack thereof, and valuation define the direction of the stock market. But how does a largely obscure company gain so much traction that its stock nets a 24,704% growth over a nine-year span? That’s just what Patrick Industries, Inc. an Indiana-based building materials supplier and manufacturer, has done.
Remember the housing crisis that reached its peak in 2007-2010? The subprime mortgage crisis, as it became known, forced tens of thousands of homeowners to foreclose on their property and the stock market to take its worse plunge ever—topping the Great Depression. At the time, the company was trading at $.28 a share.
Who Would Have Thought?
Fast forward to the waning months of 2017. That same stock is currently worth $64.70 and is widely considered the #1 performer of the past decade. Had you acquired 10 shares at the time the stock was trading at its lowest point and cashed in today, you would have made $644.20. Just 100 shares would have netted you a nice profit of $6,442.
Investing in the stock market may be anything but a sure bet, but the few “chosen” ones out there who are able to correctly pinpoint market trends and accurately predict the direction of the economy can literally make something out of nothing.
From Crap Shot to Molecular Physics
Stock trading can be placed somewhere between a poker game and applied science. Does that mean you should invest your infant’s college tuition on a random stock that’s fallen off the charts because you believe the company is about to turn it around? Probably not.
There are a number of financial advice firms fielding impressive teams with proven track records that are capable of transforming a relatively small budget into significant money. They shouldn’t be too hard to find doing a simple Google search. Be aware of numerous scams and “easy-money” offers that are too good to be true. Picking a stockbroker that will help you along the way is, in of itself, half the job.
NOT a Fluke
Success stories like those of George Soros are not flukes or one-time scenarios that are impossible to replicate. I’ve seen people do it and make millions in the process. Like any profession, it takes a lot of time, hard work, to go with pure talent and intuition, but it’s definitely possible. Just ask those who bet high on Patrick Industries nine years ago…