This mornings bull dot comThere is nothing like the performance...

This mornings bull dot com

There is nothing like the performance of a potential “ten-bagger” in the making to send investors off in a flurry of activity seeking “the next ….”

Long time investors have seen this phenomenon time and time again. For some of the newcomers, a “ten-bagger” is a term coined by legendary US fund manager and author Peter Lynch. A ten-bagger is an investment that has appreciated ten times the investor’s initial purchase price.

While not always the case, many ten-baggers emerge from the doldrums in one burst following a blockbuster announcement to investors. This is what happened to newly listed clean energy minerals miner WA1 Resources (WA1).

The company listed in February of 2022 and treaded water for months before sharing the news with the market of the discovery of rare earth minerals present on its flagship asset. The stock went into a trading halt on 23 October pending an announcement. The few investors who had been following the stock should have been able to see what was coming from prior announcements. The announcement of the discovery came on 26 October, with the price up close to twelve hundred one thousand percent over the last month. Over three months the stock price is up 1500%.