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Added on the 25/06/2019 16:02:25 - Copyright : Wochit
Tiffany Wood has been an active 'super user' seller on Poshmark since 2015, and her loyalty has truly paid off. According to Business Insider, Wood now has a $12,000 nest egg because she bought stock in the company's initial public offering. In a leaked email, Poshmark let super users know the company had reserved 330,000 shares that they, and their friends and family, could purchase. The max buy was 150 shares. Wood bought 149 shares at $42 a share--the initial share price. On day one, her stock went up to a value of $14,378. By the market's close on Friday, shares were trading at $83.20. Wood's stake is still worth $12,397 with a healthy profit of $6,139. And she's thrilled!
The great Warren Buffett is a skilled investor who is studied, analyzed, and imitated by many. But according to Business Insider, most people already have what Buffett has used to generate his immense wealth. In Morgan Housel's new book 'The Psychology of Money,' Housel argues that the 'secret' is simply how long Buffett's been investing. In other words, time. When measured by average returns, Buffett isn't the greatest investor of all time — but he's had time and patience on his side. In fact, Buffett admitted this himself in an interview with motivational coach Tony Robbins, who asked Buffett how he got so rich. Three things: Living in America for the great opportunities, having good genes so I lived a long time, and compound interest. Warren Buffett Founder, Berkshire Hathaway
An analyst for Fundstrat say that US stocks are set to continue their bull run in 2021. On Thursday, Fundstrat's Tom Lee released its 2021 outlook. He outlined how the S&P 500 could surge 16% to 4,300 by the end of next year. Pent-up demand due to the COVID-19 pandemic leads to a stronger-than-expected recovery in GDP. A surge in demand from consumers could be sparked by a "pandemic finale." Business Insider says declining volatility and low interest rates are also supportive of the stock market.
On Friday, US stocks made gains as hopes for a peaceful transition to the Biden administration offset concerns about soaring COVID-19 cases. Business Insider reports S&P 500 closed at a record high. On Thursday Pres. Donald Trump said he'd hand over power when the Electoral College certifies President-elect Joe Biden as the winner of the 2020 election. The US reported 125,082 new coronavirus cases on Thursday. That brought the seven-day average to 163,831, according to the COVID Tracking Project. Deaths topped 254,000, and hospitalizations jumped above 90,000. The stock market's "fear gauge" fell as low as 19.51 on Friday, dropping amid low trading volumes to its lowest level since the pandemic began.
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