2024-07-28 09:06:00 ET
Home Depot (NYSE: HD) might be seen as one of the most mundane stocks out there today. Unlike more exciting opportunities in technology or healthcare, Home Depot is mostly viewed as a brick-and-mortar retail outlet specializing in home improvement products.
Despite its humble profile, however, investors might be shocked to learn that owning Home Depot stock has helped many attain generational wealth . An investment of just $1,000 at the time of Home Depot's initial public offering (IPO) in 1981 would now be worth $17.5 million.
The trade-off here is that in order to reap these gains, you'd have been required to hold onto Home Depot stock for about four decades.
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Home Depot Stock Turned $1,000 Into $17.5 Million, and One of Its Founders Just Revealed His Investing Secrets to Achieve Generational Wealth