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I just wish the game would let the player buy factories instead of the company!
Sometimes I buy just before the end of year just to get the stock to split - it's expensive but it's worth it as the company expands and sales improve.
Luck plays its part 'cos sometimes the game stitches you up with an economic downturn just when you've bought a bunch of shares - if this happens, hang on to what you've got and sell only to avoid your broker selling all your shares. This is a good time for the company to buy back stock as it inflates the share price and can keep afloat..... sometimes.
It's a little more complex in scenarios with competitors as they can buy your stock and you have to watch out for them trying to take your shirt, but then - you can do that to them :-)
If you tank your company on purpose a little bit (you can use your initial 100k-150k to place small stations in cities and other companies won't build there). Build only one railroad track between two stations and buy two trains, one to start at each station, but don't load them up yet. For the first couple years, don't do anything and just watch your stock fall. Buy the stock when it gets pretty low, then let your trains run between your towns. Your stock will jump up at your first shipment and continue to go up as you build enough money to connect other places too.
To help you should also lower or zero out your dividend at the start of the game and then raise it closer to the win year.
You can also buy other company's stock if it's considerablly low and hope that it comes up too.