The latest development about the National Bureau of Economic Statistics shows that roughly a third of the United States saved their first $1,200 stimulus check.
While the round of stimulus check on the horizon is fresh, you can probably stash your next relief payment away for a rainy day.
If you probably want to make the most of your free cash, then parking your relief payment in the bank is not a smart move for you.
I know many would be wondering why? It is because traditional bank accounts didn’t pay with interest.
Stock is incredible, and if you want your stimulus check to grow over time, it is better to invest some or all of it in the stock market.
All these prompt us to determine how much someone would have made if they have invested all $1,200 of their first stimulus check into some of today’s most buzzed-about stocks.
Our findings on the eight stocks would be listed below. Here’s what we found.
Your $1,200 investment would worth $15,189.87 today
Total increase: 1,165.82%
Total profit: $13,989.87
The above details show that you will make huge profits from your investment. Meanwhile, the American video game retailer had been struggling for years, and when the pandemic hit, things began to look increasingly grim for GameStop.
But the price skyrocketed, despite the situation after a subreddit called WallStreetBets urged small-time traders armed with low- and no-commission trading apps like Robinhood to snatch up shares of GME,
Your $1,200 investment would worth $7,958.40 today
Total increase: 563.20%
Total profit: $6,758.40
Even though pandemic hit down most stocks, 2020 was a banner year for Tesla. Elon Musk’s pioneering electric vehicle company split its stock between August and had its biggest year ever production.
During the first wave that got the factory shutdowns that plagued the auto industry, Tesla managed to deliver close to 500,000 cars in 2020.
Had it been you have invested your first economic impact payment in Tesla stock; you’d now be up by $6,758 — the equivalent of more than five and a half $1,200 stimulus checks.
Your $1,200 investment would worth $2,423.61 today
Total increase: 101.97%
Total profit: $1,223.61
The best tech giant Apple had a great year in 2020, as it became the first U.S company ever to reach a $2 trillion valuation, which’s pretty huge.
What more fantastic about that stat is that all of Apple’s second $1 trillion came between March and August, at the height of the pandemic.
Investing your $1,200 stimulus check in Apple stock on April 13, 2020, would have netted you a profit of more than $1,200, effectively doubling the value of your relief payment.
Your $1,200 investment would worth $1,838.53 today
Total increase: 53.21%
Total profit: $638.53
After all, the world was stuck in lockdown for the bulk of 2020, then online shopping took the chance and became the new normal for millions of Americans, and made Amazon ranked in huge profits as a result.
While the e-commerce juggernaut saw sales for the full 2020 fiscal year total $386.06 billion — a 38% increase from 2019.
This made Amazon one of the two tech giant companies ever to post more than $100 billion in quarterly sales. (Not surprisingly, the other was Apple.)
If you’d invested your first stimulus check in Amazon, you’d now be up by $638 — enough to go on quite an online shopping spree.
Your $1,200 investment would worth $2,066.59 today
Total increase: 72.22%
Total profit: $866.59
Most of the companies have an issue during the pandemic. Still, the parent company behind Google and YouTube finished 2020 strong, as it racks up $56.9 billion in revenue during Q4 — an impressive 23% growth over the previous year.
YouTube ads were immensely profitable for Alphabet in Q4, bringing in $6.89 billion and marking a 46% increase from the same period in 2019.
Following Alphabet’s announcement of its fourth-quarter earnings earlier this month, its stock jumped more than 7% in a single day, hitting a record high of $2,106.62 per share.
By investing your first stimulus check in Alphabet, you could have made a profit of more than $866.