Could Buying Constellation Energy Today Set You Up for Life?
Will the power producer deliver even bigger gains over the long term?
Overview
Constellation Energy (NASDAQ: CEG), one of the largest independent power producers in the U.S., was spun off from Exelon (NASDAQ: EXC) in an IPO on Feb. 2, 2022. It opened at $50.04 per share, but it now trades at about $255. Let's see why Constellation became a multibagger stock -- and if buying it today will still set you up for life over the next few decades.
Image source: Getty Images.
Constellation operates nuclear, natural gas, oil, geothermal, hydro, wind, and solar facilities with a total capacity of 55 GW. Its nuclear fleet, the largest in the United States, accounts for 22 GW of that total and fuels most of its profit growth.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.