This stock reminds me of Freelancer (ASX:FLN) a bit. I bought FLN shares when the SP was at $0.60 right after the IPO. I bought it because I trusted the business model of the company. It was clear from the beginning the company would be the eBay of job outsourcing within the next 5years, and there are hardly any competitors. However the SP started plummeting around March despite the company reporting a lot of successful financial results with booming customer database. Then came the perma-bear experts nonsense commentary on why FLN was a market darling and how it doesn't look sweet any more blah blah. This followed by people selling the stock for no reason. Yes, it touched down to $0.52, this is when company's CEO started to top up more shares. Whereas, I - without understanding why the SP is down, why people are selling or without thinking why I invested in the company at the very first place - moved with the crowd, thinking "oh everybody is selling so they must know something that I don't" and sold all my shares around $0.65. Now, FLN is trading around $1.25 and is likely to double up in the coming years.
So here I am, I let the FLN opportunity go but I am not doing the same mistake again. This is why I'm holding and even topping up my NEA shares. This is me learning from my mistakes, reminding myself why I invested in NearMap at the very first place, not going with the crowd and trying to sell my shares without knowing why. I just wanted to share this experience as there may be young investors out there who are new to the sharemarket, questioning why NEA shares going down and whether they should sell. Hang on there guys, even buy more if you have more cash, you'll be laughing next year around these times
NEA Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held