Hello, I inherited a few thousand shares of MHR. Your intelligent discussion is promting me to ask:
shall I hold or sell? I do not understand this sector and cannot decifer your comments. I am in no rush to sell...on the other hand, with the market doing so well, perhaps the money could be put to better use. I am way in the hole as it was bought at the high. But if you think this is worth holding for a year or two, I would like to know. opinions please. thank you
If you inherited it, you are in at 0 dollars/share cost basis. There was some good advice above. It is hard to say where it is going, but I feel that it is a long term hold and currently undervalued. You really have to do your on DD and remember that this is purely a message board. Certain posters provide good information and discussion. Read the discussions and be wary of the serial posters that don't promote any real discussion of substance with their posts.
If the stock was inherited you will have a "stepped up" basis for taxes. The purchase price is not relevant for you. MHR should increase in value long term, but in the short run will probably be flat. It will move up and down, so if that bothers you then just sell.
It really depends on what your overall financial status might be. If you are rich, just hold on. If you are poor and have credit card debt, then sell and apply the proceeds to your debt.
If you have no cash savings or emergency fund, then sell and put the $$ in a bank account.
My advice: Don't take any advice from the idiots on this board. Half are short and trying to scare you into selling, half are long and are sunshine pumpers. I own shares and feel like this company is very undervalued and will eventually get back to fair value around $7, but my opinion is just that, another opinion. Do your own DD.