Got $3,000? 2 Tech Stocks to Buy and Hold for the Long Term
Got $3,000? I've got some good news for you. You can turn that sum into a sizable nest egg with enough time and the right stock. For example, $3,000 invested in the S&P 500 index, which has historically returned an average of 9%, would turn $3,000 into $7,100 in a decade.
However, if you found a stock that compounded at 20% annually, that would give you nearly $17,000 in a decade, or more than five times your original investment. Only a select few stocks can deliver those kind of returns.
Axon Enterprise (NASDAQ: AXON) and MercadoLibre (NASDAQ: MELI) have bested that over the last decade, and could do it again. Here's why these two are great buy-and-hold stocks.
Source Fool.com
