Written by Kay Ng at The Motley Fool Canada
Based on the recent price action of Air Canada (TSX:AC), it’s impossible to visualize it as a possible millionaire maker for stock investors. The volatile stock see-sawed up to $26 per share before crashing down to about $17 and settling at approximately $18 at writing.
Before then, investors who managed to grab the stock at a 2022 low of $16 would have maximized gains at about 62% if they timed it very well by taking a profit at $26 about 11 months later. (Of course, there were plenty of ups and downs in between that investors had to endure.)
To get an end result of $1,000,000 with this short-term trade, investors would need to have invested about $617,284. I would imagine that few investors would be willing to risk that much money for the potential of running it to $1,000,000. Instead, it would be smarter to diversify the amount across a diversified portfolio of stocks…
