Biggest investment mistake ever made putting money into FPC . Best to sell out and cut your losses. Even if the NAV recovers I don’t believe they will ever close the gap between the SP and the NAV, and whenever the market has another sell-off you can be assured that FPC’s SP will be slaughtered again, worse than the market, and the whole vicious cycle of trying to claw back gains starts again - from an even lower level.
FPC (imo) will never see $1.00 again, let alone $1.10. It’s gut-wrenching to take a 30% - 40% loss, but it’s still better than watching the loss grow to 50% or more, plus the opportunity cost of keeping money there. As Cramer would say “Sell Sell Sell” and am waiting for my opportunity to sell what little I have left of this nightmare.
FPC Price at posting:
73.0¢ Sentiment: Sell Disclosure: Held
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