The meme stocks GameStop (NYSE: GME) and AMC Entertainment Holdings (NYSE: AMC) have gained roughly 4,040% and 930%, respectively, in the past year on the strength of social media frenzy. While these spectacular returns far outweigh the S&P 500 's modest gain of 35% in the same time frame, they also come with a boatload of volatility. Hence, for a retail investor with an average risk appetite, nothing beats the conventional wisdom for long-term wealth generation: Invest in fundamentally solid stocks riding strong tailwinds.
You don't need massive amounts of money to take the first step toward building wealth in the stock market and achieving financial independence. If you have $700 that won't be needed to pay bills, the following three companies can be smart picks in the long run.
Image Source: Getty Images
For further details see:
The Smartest Stocks to Buy With $700 Right Now