I feel for you. I rode Arrium into the ground, averaging down along the way, against the strident advice of a couple of non-holders who were telling the story exactly how it was. I didn't listen.
I took better care of myself after that... until SO4. At least I have @sevo to thank for inciting me to question the company's announcements and to be cautions. I didn't average down. I took advantage of the last capital raising to take some money off the table. But still got caught with money on the table. Sevo didn't get much thanks over there on that forum.
Bailing out at a loss is better than sticking with it for a complete wipeout. My personal view with a stock in this situation is that no matter what the residual value of my holding, there is probably somewhere better I can put it while the troubled business struggles with their difficulties.
KLL Price at posting:
6.1¢ Sentiment: None Disclosure: Not Held
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