Could This Undervalued Stock Make You a Millionaire One Day?
Buying and holding great companies for a very long time is a proven strategy for making money in the stock market. This allows investors to not only make the most of secular growth trends but also helps compound their investments over time.
For instance, an investment worth $10,000 in shares of Nvidia (NASDAQ: NVDA) a decade ago is now worth $1.9 million. That translates into a whopping annual return of almost 70% over the past 10 years. During this time, Nvidia investors have benefited from the growing adoption of the company's graphics cards in the gaming, automotive, and data center markets, illustrating just why holding a solid company for a long time could be a rewarding thing to do -- even helping you become a millionaire.
However, a stock jumping 100x and turning $10,000 into nearly $2 million dollars is a rare occurrence. But at the same time, if you have that much cash available after paying off your bills, saving for tough times, and clearing high-interest debt, it may be a wise thing to put that money into an undervalued stock with terrific long-term potential.
Source Fool.com
