I got in this at 16 about two years ago...then bought some more at around 9, then some more at around 5...then just recently picked up a bunch at 1.50. Overall, I got my cost basis down to around 3 and some change, which isn't great but no where near my original position! I guess the point I'm trying to make is (1) even though I got in super high, buying more on the way down has made my cost basis easier to swallow, and (2) I imagine the people who are left in this stock must have a lot of conviction. Personally, I refuse to lock in a loss and make somebody else money, so it's all or nothing for me at this point. When we get better quarters from greater carrier capex and this thing pops, I'm going to enjoy watching the short squeeze.
I can certainly understanding your not wanting to take loss but I really cannot see averaging down until a company materially changes its condition. I sold at 1.41 and took the $1580 loss in the fall and pledged never to look at this again, but I still do watch it. Like you I would like to get my money back but I have to wait until BK or low $ buyout is off the table and they turn around the ship. All of these optical companies are marginal businesses. I am in an industry leader and we too lose money. They are just not investible; it is just gamble and hope. Be well
You must have gotten in around the time of Cramer's pump. At that time, Oclaro was trading at 40% of Finisar's stock price. I sold some Finisar to buy Oclaro at the time, believing it to be relatively undervalued. How wrong I was as Oclaro is trading atless than 10% of Finny's stock price. Of course, that was the time Alain was touting it as a billion dollar company. I understand your hanging on to see how it works out, I have done that with other stocks I own with mixed results. Good luck.