To test this, I start with a small stock account, and I am not going to do any risky trading. I am simply going to buy and hold the stock that I believe it has potential to grow big, doesn't matter how much the price goes up or down.
Since many investors believe that 2024 is a bullish year, it's a good time to test this. Let's see how much this account can grow by the end of 2024.
I tried this new stock investment platform call Mplus Global. I am not familiar with this platform, but there are few local Youtuber recommending it, so I decides to give it a try.
Long story short:
- I picked Palantir as my targeted investment.
- Total unit holding 28 units, at average cost of $18.09.
- Invested $506.52, profits $225.96, a 44.61% return.
On December 18 2023, I bought 11 unit of Palantir stock at $18.20, and it cost me about $203.44, which $220.20 is the cost for buying Palantir stock and $3.24 is the fees.
Palantir wasn’t performing really well at the beginning, the price hanging around between $16 to $17. I was kind of nervous actually, but I decided to stick with what I have planned which is not doing any frequent buying & selling. So, absolutely No Trading no matter what the price is!
Anyway, I knew that the Palantir stock price would eventually go up because I had already done my research. I knew that the Palantir AIP Bootcamp is going to be a success,
So, I added another 8 unit of Palantir stock at $16.59 into my portfolio on January 16. It cost me about $132.72. Then, I bought another 7 units again on January 27, this time it cost me about $115.64. The fee is almost same $3.23, not sure why.
Well then, the next step is doing absolutely nothing for the rest of the days, and just wait. You know the buy & hold strategy.
The miracle happened on 5th
of February, which is the day Palantir release its earning. I knew it! Palantir
is going to skyrocket. The next day, the stock rose about 21%, and my portfolio
is going to the moon.
On February 22, I bought another 2 units at the price of $22.56, which cost me $45.12 for the Palantir stock and $3.22 is the transaction fee.
In summary, the return is actually not bad & quite impressive, 44.61% in just 3 months. Well, that's it for first quarter of 2024, will keep update on next quarter.
