Take the loss and move on. Dead money here at best, or continued lower. I also bought 1k at 6.71 and sold it this morning for 5.65 in the premarket. I was wrong! I learned along time ago to take my losses and move on. There will be other opportunities in other cos., to put your funds to work and recoup. This is not that place is my belief. However, I do alot of trading, and that is the perspective I come from.
This is the biggest farce ever foisted upon naive investors. And there are lots of them in the market these days
But you are a trader, and not an investor.
1. If you were an investor and you had done your research, you either came to the conclusion that the stock was undervalued at $6.71, or you would have waited for the earnings announcement before buying.
2. Having bought at $6.71, and concluding it was undervalued, and the stock was already trading near the all time lows, what was your expectation of where the stock should go? $10? $15? Why would it matter what the stock does within the next day or week? Did you think the stock would get to $10 or $15 so quickly? Or you were just looking for a quick pop to $8 so you could get out quickly with the 20% profit and move on to the next opportunity?
3. If you were an investor and not a trader, you did your research and were confident in it, to be able to buy the stock at a 25% discount only a day later would be incredible. You are seeing in action that the market is missing what you see in the company and that the stock is undervalued.
4. It's nice that you admit your mistake and move on. Great trader mentality to book a 20% loss overnight. Other opportunities in other companies? Of course - other opportunities for you to try to make a fast buck relying on little more than the roll of the dice.
"This is not that place is my belief. "
And, your belief was so correct the day before, that with you now admitting your mistake, your new belief is more credible? Do you understand how utterly stupid you sound?
I laugh when I see folks like you in the market - so knowledgeable because you do a lot of trading. You are what allows real investors the ability to make lots of money regardless of the day to day soap opera the market broadcasts.
Thanks for the entertainment - it's still early and I've already had my fill for the day. Be sure to come back and tell us all about the next opportunity.
Take this great opportunity to buy more at this discount. Numbers don't lie. Very undervalued now. They just grossed 100 million in the last quarter, have little debt and the company is only valued at 150 million? Lol BUY