Now is the time to make big money in Nigerian stock market. The time when every stock is down. This has been the opportunity the wise investors are looking for. – The time to buy stocks at a very low price. So if you are looking at securing your own future, the best way to do that is to invest in Nigeria stock market at this period.
Well let me tell you something good.. The stock trading business and stock investing is a very rewarding one indeed, but only if you dedicate enough time and hard effort to understand it. I guess your immediate question would be which is the best stock to invest in? Right?
I could have talk about all the popular good and hot stocks to buy, but the only catch there is, they are too many. Let me share my own experience. On June 20th 2008 I bought Ecobank shares at the share price of N6.90 per share. At the time I bought it, it was a penny stocks. It was risky but, I made up my mind to invest only N20, 000 on this equity.
The Early Months
The first month, my little penny stocks went up around +2.30. That means they were up to N8.00 that was good! But I wanted them to go up a little further and then sell them so I could make the difference… To my surprise they dropped to $7.50 – something like that. But this wasn’t a bad surprise for me; somehow I ended up buying more… spent around N50, 000 in total! Till this day I don’t know why, but I took the risk!
For the next 1 year the stocks skyrocketed. On September 1st 2009, the same Ecobank share was sold at N27.96 and I immediately placed order through my stock broker to sell all my Ecobank shares. I made a great deal of money, i.e. over N200, 000 from N50, 000 I invested initially. But the thing is… by 2009 it wasn’t small cap stocks anymore! Their price had gone up to a whopping N27 per stock! How about that! Life was good! And still is… Thanks to that moment!
In Short
What I’m trying to say here is, the best stock to invest in isn’t always the one that’s worth hundreds of naira. Sometimes you just have to go for it and take the risk with penny stocks, hoping that the penny stocks will explode some day and make you a real fortune!
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