Millions of people have started investing in the past year, thanks in large part to the growing popularity of apps like Robinhood and zero-commission trading. Boredom also could have played a role; in the middle of lockdowns and stay-at-home orders, trading stocks may have inadvertently become a new pastime for many looking to make money on the market.
Investing can be a great way to improve your financial position. But if you aren't careful and you buy shares of bad or risky companies, those mistakes can destroy your savings. If you are a new investor and aren't sure which stocks you should start your portfolio with, there are two that won't steer you wrong: Eli Lilly(NYSE:LLY) and Coca-Cola(NYSE:KO).
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1. Eli Lilly
Drugmaker Eli Lilly is a great stock for beginners. The business is profitable, diverse, and contains many great products that can deliver growth for years. Diabetes and cancer drugs are prevalent in its portfolio, and that can make the business more resilient to pandemics or recessions, as patients will always need to take ongoing treatment for chronic conditions.
When the company released its most recent earnings report on April 27, its revenue topped $6.8 billion for the period ending March 31 -- 16% more than the $5.9 billion that it reported in the same quarter last year. Diabetes drug Trulicity led the way with $1.5 billion in sales and grew 18% year over year. Eli Lilly also got a boost from its COVID-19 antibody treatment, which generated $810 million in revenue that wasn't on its financials a year ago.