The following first appeared on InvestorPlace.
As I sit down to write this, my pick in InvestorPlace.com’s Best Stocks for 2020 contest — pipeline giant Energy Transfer (NYSE:ET) — is smack-dab in last place and nursing losses of over 60%.
I’m not too thrilled about that, as you might imagine. But we’ve been here before.
In the Best Stocks for 2016 contest, Energy Transfer was my pick. It struggled at first, and toward the end of the first quarter I was down more than 70%.
But then, a funny thing happened. The stock finally hit bottom and proceeded to rocket higher. I finished the year with a 53% return.
Now, history never repeats itself exactly. I have no idea if ET stock is going to mount an epic rally over the next nine months of 2020. But I know that, given the stock’s valuation, it very easily could.
To keep reading, please see Best Stocks for 2020: Energy Transfer Stock Has Been Here Before.