Could Investing $50,000 in Palantir Stock Make You a Millionaire?
Finding the next stock that could make you a millionaire is obviously a draw for many people. However, it's rare to find a company that actually has the potential to grow as large as it needs to become to allow you to become a millionaire from one investment.
To turn $50,000 into $1 million, the stock would need to rise by 20 times. That's a tall order, a feat that few companies ever accomplish. One stock that some have pointed out with this potential is Palantir (NYSE: PLTR), as its artificial intelligence (AI) software could become widespread. So, could a $50,000 investment in Palantir make you a millionaire?
Part of Palantir's draw is its dual customer structure. Originally, Palantir only created software for government use. This lucrative market for Palantir still makes up over half of its revenue. However, Palantir recognized the use case for its AI software outside of pure government use and expanded onto the commercial side, which has seen phenomenal growth.
Source Fool.com
