I don’t trade Bitcoin. I’m not an options trader. I’m not even a day trader. I’m an investor. Last year, I started buying stocks. For quite some time, I was interested in building a portfolio.
The reason is simple. I don’t plan on working forever. I want to retire someday. And stocks are a major component of my retirement plan and savings.
The Biggest Winner
In March of 2019, I bought five stocks. The Walt Disney Company, Tesla, and Amazon are three of the companies I purchased. Everyone knows them. The other two you may not be familiar with: Mercado Libre and Shopify. Shopify’s my biggest winner. And not just of this group of five.
Since March 2019, I’ve added several other holdings. And before that, I owned a few other stocks too. Of all the stocks I’ve ever owned, Shopify has been my biggest winner.
Back then, I bought eleven shares for $190.85 each. On Monday June 22nd, the stock closed at $908.00. I now own ten shares totaling $9,080. That equals an unrealized gain of $7,165.
In less than sixteen months, I’ve nearly quintupled my investment in these ten shares. I am content, but my only regrets are that I didn’t buy more and that I sold one share.
Another reason why I’m as happy as the old fellow in the picture is because I have these shares in a Roth Investment Retirement Account (IRA) so the gains are tax free! That was one of my good moves.
And just in case you’re wondering who Shopify is and what they do, they are a Canadian based e-commerce company. Shopify has the ticker symbol SHOP (NYSE).
SHOP allows retailers to build their own e-commerce websites, also known as web stores. Besides displaying products, Shopify’s software tracks inventory, processes payments, offers blogs and many other bells and whistles to help small retailers build beautiful web stores.
For years I heard about growth stocks such as Apple, Google and Amazon. These stocks started off relatively cheap but then multiplied in value over and again. I heard about how some people made money or even got rich with growth stocks like these.
I bought Shopify because I read it was the next Amazon. Now, it’s starting to look that way. I’m holding my shares for the long run and plan on buying more. If you have any questions or comments, please leave a reply below.
If you’d like to follow SHOP’s growth, here’s the link to it’s quote on CNBC.