This Cheap Stock Could Make You Forget About AMC and GameStop
One of the major stories in financial markets this year has been the popularity of Reddit-fueled meme stocks. Thanks to the power of online communities, large numbers of individual investors have come together to make contrarian bets on heavily-shorted stocks in speculative bids to make quick profits. AMC and GameStop have been among the more prominent examples of stocks benefiting from this wild trend.
But as a long-term strategy, trading meme stocks will prove to be unsustainable. A better and safer investing strategy is to focus on quality companies. If you want to build real wealth, create a diverse portfolio out of those stocks and hold onto them for the long haul.
One cheap but solid stock that fits the bill: Lowe's (NYSE: LOW).
Source Fool.com
