With the market beaten down pretty bad, we figure now is a perfect time for us to buy some individual stock with a little “play money”.
We took $1,000 out of savings and opened an E*TRADE stock trading account. My wife and I have had our eyes on a few stocks, but ended up choosing Toyota Motor Corporation (ticker TM) because we feel it is a strong company and will likely recover nicely when the economy turns around. We purchased 15 shares of Toyota on Thursday for $63.71/share. In the last month, it dropped from right around $90/share to its current price of $67.10/share. 12 months ago, it was at around $114/share.
We’ll see where it goes from here. With the volitliy of the market, I’m sure it will shoot above and below our purchase price. We hope to take some profits if it works its way back up to $90/share.