1 Stock-Split Stock That Turned $50,000 Into $1 Million in Less Than 10 Years
Legendary investor Peter Lynch once said, "All you need for a lifetime of successful investing is a few big winners, and the pluses from those will overwhelm the minuses from the stocks that don't work out." In hindsight, Tesla (NASDAQ: TSLA) certainly qualifies as a big winner. The stock has soared more than 2,100% over the last nine years, meaning an initial investment of $50,000 in September 2013 would now be worth $1.1 million.
In August, Tesla generated buzz when it enacted a 3-for-1 stock split, its second stock split in just two years. Of course, splitting a stock has no impact on the value of the underlying business. But two splits spaced so close together does imply significant share price appreciation in a very short period of time, and that can be a signal of a high-quality business.
With that in mind, is this stock still worth buying today?
Source Fool.com
