It's been a rough year so far for fans of All Ordinaries Index (ASX: XAO) shares. The benchmark index has dumped 11% since the start of 2022.
Such falls can be deflating. But, if you need a reminder of the rewards that investing on the ASX can bring, we've found one.
We're taking a close look at an All Ords favourite that has gained a whopping 3,860% over the last ten years. Such gains have the potential to make millionaires out of shareholders.
Without further ado, here's the All Ords share that's turned a $30,000 investment into more than $1 million.
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This All Ords share turned $30,000 into $1m
Did you invest in Polynovo Ltd (ASX: PNV) shares in 2012? If you did, give yourself a pat on the back.
The company develops medical devices, focusing on its NovoSorb technology, and its stock has had a whopping ten-year run on the ASX.
Indeed, buying $30,000 worth of Polynovo shares ten years ago would have seen an investor pay around 5 cents apiece for approximately 600,000 shares.
Today, that investment would be worth a mindblowing $1.19 million.
Right now, the Polynovo share price is $1.98 – 5.6% higher than its previous close. For comparison, the All Ords index has risen 0.6% on Thursday.
But that's nothing compared to the stock's all-time high. The Polynovo share price reached a high of $4.08 in December 2020.
At that point, that figurative 600,000-strong parcel of the All Ords company's shares would be worth a whopping $2.45 million – representing an 8,000% return on investment.
Wishing you got on board Polynovo shares back in 2012? Me too.
Though, it's worth keeping in mind the broader market has also posted a notable gain over the last decade.
The All Ords Index has lifted more than 50% in that time – including this year's tumble.
