2 Stocks That Turned $1,000 Into $5,000 (or More)
Beginning investors often dream of finding the stock that turns into the next Amazon or Tesla. While recognizing such names early is no easy task, one strategy involves finding relatively new companies that have already made massive gains and hold the potential for more growth. Etsy (NASDAQ: ETSY) and Wayfair (NYSE: W) are two internet and direct marketing retail stocks that appear positioned to fit that description.
At first glance, Etsy may look like a Shopify for the arts and crafts industry. However, more than acting as a mere software platform, Etsy created a community that bolsters small businesses while helping buyers find the products they need. Artisans, craft suppliers, and sellers of vintage goods can start an Etsy site, paying as little as $0.20 per listing. From there, Etsy provides a search tool to lead interested buyers to their products.
Investors have reaped the benefits. Stockholders who invested $1,000 when Etsy fell below $30 per share in March 2020 would hold a position worth nearly $6,600 as of the time of this writing.
Source Fool.com
