Could Investing in Redfin Help Make You a Millionaire?
Getting to millionaire status by investing in the stock market is easier than many investors think. Consistently investing in the broader S&P 500 index over 20 to 30 years could get you to $1 million alone. But investing strategically in select high-growth stocks can expedite the time to reach $1 million.
Redfin (NASDAQ: RDFN) is a stock that, for many, fits the bill of being a millionaire-making stock. It has major growth potential through innovative technologies in the rather outdated real estate industry. But does it have what it takes to grow over the long haul and truly reach millionaire status? Let's take a deeper look to find out.
True innovators -- that is, companies reshaping how people consume a product or service -- take time to grow. Think of the internet: Something so intimately entwined in our world today took decades to go mainstream. Apple is one of the most popular stocks today and was publicly traded for 26 years before shares started to soar. Tesla's vision for the future of electric vehicles could take years for the masses to buy into. Redfin is no different.
Source Fool.com
