I’ve been splashing out on UK growth stocks that I hope will fly back into favour when the recovery finally kicks in. Some have had a bumpy start, but I’m measuring their success in years, rather than weeks.
Sod’s law seems to dictate that whenever I buy a stock, the first thing it does is fall. That’s what happened to home improvement specialist Wickes (LSE: WIX).
I added the £411m group to my portfolio on 13 September, three days after it posted a drop in interim profits. The shares held up on the day, as the board predicted a better second half. With grim inevitability, they fell 6% or 7% after I bought them. So it goes.
I’ll get dividend income, too
I bought Wickes shares because I felt they would benefit from Labour’s plans to ramp up housebuilding, alongside a wider consumer recovery as the cost-of-living crisis faded and the Bank of England cut interest rates.
Personally, I think Labour will…
