Now that you’ve bought your first stock, you’re officially an investor.
Hopefully, this will be the first step in a long and profitable journey for you.
Now you need to start monitoring your investment to see how it’s performing.
In our MyWallSt app, your stock will be automatically added to your portfolio so you can track its performance. However, checking the stock price every day isn’t really helpful.
It’s a far better use of your time to keep tabs on how the business is performing.
In the Focus section of the MyWallSt app, you’ll find daily updates about the businesses we recommend written in-house by our analysts. This is a great place to start.
Most companies will also send out press releases regarding any important news about the business. You can subscribe to these updates on the investor relations section of their corporate websites.
Finally, you should find out when the company is set to send out their quarterly earnings release. Every public company in the U.S. publishes one of these every 3 months. In it, management will give a summary of what’s occurred over the previous quarter. Some also give insights into their future plans, and possibly even how much they expect to earn in the coming year.
Following these steps will have you set up to become an informed and successful investor in no time. Once you get into the swing of things, you can simply repeat the process to build a diversified portfolio of great companies.
Good luck on your investing journey.
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Chief Investor and Co-founder at MyWallSt
Emmet’s first stock was Dell Computers, but it's not his favorite anymore! That honor goes to Tesla, who is producing user-centric products for a global customer base.