ORLY - History Says This Nasdaq Stock Is a No-Brainer to Buy in 2024 and Hold Forever
2024-01-15 09:53:00 ET
Had an investor bought $2,575 of O'Reilly Automotive (NASDAQ: ORLY) at its initial public offering in 1993, they would have become a millionaire three decades later. This track record alone is enough to catch most investors' attention. But the auto parts retailer has several other compelling factors that should keep it humming along far into the future. That includes top-tier profitability, a robust stock buyback history, and the potential for continued expansion into Canada and Mexico.
For all these reasons, O'Reilly looks like a no-brainer buy in 2024.
With over 6,000 stores and 28 distribution centers across North America, automotive aftermarket parts and services specialist O'Reilly may seem to be past its growth days at first glance. However, while the company's "easier" store count expansion across the United States may be reaching saturation, its expansion plans into Mexico and Canada have only begun.
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History Says This Nasdaq Stock Is a No-Brainer to Buy in 2024 and Hold Forever