How Has Goldman Sachs Stock Soared 53% This Year, But Still Costs Only $1?
It has been a very good year for financial sector stocks in general, as the average share price in the sector is up 37.7% year to date (YTD) and 61% over the past one-year period through Oct. 26. Only the energy sector has outperformed financials this year.
One of the brightest stars in the financial galaxy over the past year has been Goldman Sachs (NYSE: GS), the noted investment bank. Goldman Sachs' share price is up about 56% YTD and over the last 12 months (as of Oct. 27), the stock price has more than doubled from around $195 per share to roughly $412 per share -- a gain of about 111%.
The good news for investors is twofold. One, Goldman Sachs has more room to run, and two, you can invest in it for a fraction of the share price through fractional share investing.
Source Fool.com
