It is a well-known fact that few African Americans invest in the stock market. This is due to several reasons, including a lack of knowledge about investing and a preference for spending disposable income on material items and leisure activities. African Americans can join the vast majority of stock-holding Americans by contacting a local stock brokerage firm, setting up an account with an online broker, or buying stock directly from the company. Here are a few suggestions to get you started on the path to becoming an owner rather than a consumer.
–torrance stephens, ph.d.
1. Cirrus Logic Inc. (CRUS): Currently trading near $20 a share, this stock’s value has increased 191.35 percent year to date (YTD). Located in Austin, Texas, Cirrus Logic Inc. develops analog and mixed-signal integrated circuits for audio and energy markets in addition to products for consumer and commercial audio, automotive, entertainment and targeted industrial and energy-related applications. This stock is forecasted to grow to $25 per share by year-end.
2. iRobot Corp (IRBT): Not to be confused with the movie, IRBT’s stock has increased almost 11 percent in the past year. Current share prices hover below $20. This company is a leader in delivering robotic technology-based solutions and just recently received a $20.3 million order from the Naval Sea Systems Command. he robots are currently being used by soldiers in Iraq and Afghanistan to conduct dangerous missions mainly neutralizing roadside bombs, car bombs and other improvised explosive devices (IEDs).
3. Abraxas Petroleum Corp (AXAS): Very affordable at $2.94 per share, this stock has increased in value 53.13 percent in the past year. Abraxas explores, develops and produces oil and gas in Texas and Wyoming. If you want to invest in oil that is extracted solely from land, then this company is a good option for long-term investment potential.
4. 3D Systems Corp. (TDSC): The stock is reasonably priced at $15.76 and has increased 39.47 percent over the past year. 3D Systems Corp. is a holding company that operates through subsidiaries in the United States, Europe and the Asia-Pacific region. It designs, develops, manufactures, market and services 3-D printing and rapid manufacturing systems.
5. Accuray Inc. (ARAY): This is a reasonable buy with the current price per share at $6.97. This California-based company makes the CyberKnife Robotic Radiosurgery System, which extends the benefits of radiosurgery to include extracranial tumors, including those in the spine, lung, prostate, liver and pancreas. This is a great long-term hold for your investment portfolio.
