Sorry to read your story Maxw, hope things turn for...

Sorry to read your story Maxw, hope things turn for you!!

Unfortunately this is not an isolated case. Other stocks that come to mind are a couple of stocks that I was involved with.

1) AIO brought stock on 24/10/08 @ $2.57
broker downgrade 12/11/08 dropped to low of 40c

I was lucky to get out of this one - researched the stock all night, read statements from the company MD, other brokers analysis of the company plus everything I could pull up on google.
Next day convinced it was a sound stock I tryed to buy in cheap but I couldn't type fast enough to get my details through to commsec, brought some at 82c - started dropping and brought another lot at 62c.
Next day 13/11/08 climbed back to high of $1.515, I sold before this and ended up making a smalll profit, I was just lucky.

But another lession was to arise where I was not so lucky.

2) MCC brought stock 06/11/08 @$6.89
broker downgraded stock and this started a downhill slide, researched the stock and thought once again that I had a great company, unfortunately in this case it was a slower decline which to this day I blame the MD (not sure if I am allowed to name her but easy to look up) as she did not at any stage come out with a retraction statement against the downgrade.
To cut a long story short I sold out of the stock @ $3 as it was still dropping - in hindsight I had let it go so far I should have stayed in, but families to support make you do funny things - it went on to a low of $2.32 on the 26/02/2009 then reversed to climb slowly over the next year to $16.60
I made a huge loss which has taken a while to come back from but if I have learnt one thing and this is for all the new young & old investors just hang in and these stocks will come back with time.