Selling Worthless CPL Stock

People often ask why do some share holders sell at massive losses and not hold their worthless stock. Today I sold all my worthless stock in CPL and took a massive loss. I did not wait until end of financial year as was worried the company would go into voluntary administration before that. The last thing I needed was to be stuck with worthless shares that I could not write off for years while the company travels through administration.

I know many live in hope a miracle will occur but my opinion has always been this company was dead the moment Gene left. It has been a slow painful death watching the share price deteriorate and I am fortunate enough to make up this loss in other holdings which has allowed me to close the door on this company forever.

It is a good feeling to no longer be a stockholder in this company. Good luck to other holders and I hope you are lucky enough to recoup your losses with other stocks or this company performs a miracle.