The purpose of the Wealthy Joe Investing project is to introduce, educate and inform the average person on the benefits of investing in the stock market.
For brand new investors, I usually don’t recommend buying stocks that are highly speculative at the beginning of their investing career – and I still don’t advise that to this day.
I wanted to take a moment to discuss a stock called Axsome Therapeutics (NASDAQ: AXSM).
Without getting too technical, Axsome Therapeutics is a clinical stage biotechnology company that develops therapy for the management of the central nervous system. To simplify it even further, Axsome makes a revolutionary treatment for depression.
I hadn’t heard about AXSM until its price was in the $20 range – and that’s where the premise of this story begins.
On January 2, 2019, AXSM was trading at $2.84. What would occur over the next eleven months can only be described as extraordinary…
In less than twelve months, Axsome Therapeutics has gone from tiny, obscure biotech to the best performing stock of the decade.
That’s right, Axsome beat out Netflix (NASDAQ: NFLX), which was up 4,000% over the last decade – and Axsome only needed eleven months to do it.
Year to date, AXSM is up 4677%, beating NFLX handily.
I don’t think that any investor, in their wildest dreams, could have seen a move like this coming. The same could be said for investors in Netflix.
This is precisely why I believe you must be invested in the stock market. Returns like those did three things:
1. Made wealthy people wealthier
2. Made insiders very rich
3. Changed the lives of average Joes like you and I that took a chance on this stock! Imagine investing $1,000 that is now $46,000. You can’t quit your job, but making $45k passively is fantastic!
I implore you: If you did not or could not get into the market in 2019, vow to change that in 2020.
YOU ARE NEVER TOO OLD TO START INVESTING!
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)