Historical data shows that a consistent $500 monthly investment into MIRA Pharmaceuticals, Inc. (MIRA) starting in 2020 would have turned a total investment of $27K into $15K today. This represents a total return of -44.2% over the 6-year period, compounding through dividend reinvestment and market growth.
The Impact of Dividend Reinvestment (DRIP)
MIRA Pharmaceuticals, Inc. does not currently pay a notable dividend. For growth-focused stocks like MIRA, dollar cost averaging relies entirely on price appreciation. Over the 6-year period, the strategy successfully captured the stock's price movements, resulting in a final portfolio value of $15K without the need for dividend reinvestment.
MIRA vs. S&P 500 (SPY) Benchmark
When comparing this dollar cost averaging strategy against a broad market index,MIRA underperformed the S&P 500 ETF (SPY). The same $500 monthly contributions into SPY would have grown to $39K, compared to MIRA's $15K.