If you’re looking for a cheap buy-in to the stock market, you may want to steer clear of any big name brands.
Some of these companies can go for HUNDREDS if not THOUSANDS of dollars a share, which is way out of the budget for most new-coming investors.
Then again, there’s always a select few corporations that dip down in value before climbing back up…
Here’s one relatively cheap name brand that’s up for grabs right now and seems to be on the verge of a massive price jump!
Not too long ago, General Electric (GE) shares cost about $30 or so a pop.
Even then this price tag wasn’t considered that expensive, especially for a company that reels in hundreds of BILLIONS of dollars in revenue each year!
But now, with its market value opening in the single digits, a GE buy-in might be worth your while…
As I write this, the price is just under $10, which qualifies as a penny stock according to our standards.
If you were to pick-up GE shares today and its market value happened to skyrocket back up into the $30 range, you’d be looking at about a 200% profit!
In case you didn’t know, that’s the equivalent to TRIPLING your money!
But isn’t it a stretch to assume that a company’s stock price will automatically work its way back up just because it dropped in the first place?
You’re absolutely right, but that’s not necessarily the case for General Electric.
Let’s take a closer look…
As you can see from the chart, GE has been in a solid downtrend for every bit of 2 years, but that all changed with the turn of 2019.
Since the start of the new year, GE’s stock value has made a comeback from an all-time low to the nine dollars and change its sitting at today.
Shares are now neck-to-neck with the 40 week moving average and if they can manage to close above this red line, it could prove to be a very bullish sign.
I wouldn’t jump the gun quite just yet, but it’s definitely worth keeping an eye on General Electric, at least for now.
Once the moving average turns up a little more and GE stock is sitting above it, I think it’ll be safe to say the start of that 200% gain will be underway.
Trust me, you don’t want to miss out on profits like that!
