This High-Yield Dividend Stock Has Explosive Upside Potential in 2023
While I purchased a lot of fantastic stocks this past year, the stock I'm most excited about owning is Blackstone (NYSE: BX). This ultra-high-yield dividend stock has fallen 42% this year despite the company achieving record earnings and paying an attractive 6.4% dividend yield -- almost four times that of the S&P 500.
The general bear market and pessimistic outlook for macroeconomic conditions mean its current share price isn't representative of its explosive upside potential. Here's a closer look at why I think this stock could soar in 2023 and why I feel it's one of the best buys in the market today.
Blackstone is the largest alternative asset management company in the world, managing more than $951 billion in assets for wealthy individuals, insurance companies, and institutional investors. Interest in alternative assets exploded during the past few years as investors seek higher returns in today's challenging economy, a trend I see continuing for the foreseeable future.
Source Fool.com
