In regards to the OP, no-one can give you financial advice unless licenced. So its going to have to be your call on what you do with your 12k paper loss.
Just some general pointers for future.
1. Research. Im guessing you entered your position as an investor rather than a trader? So im sure you would have done your research??? Never take what people banter on about on HC as a legitimate statement Up or D ramp. If you see a statement, research it for yourself to see if it is true...
2. Be wary of overhype. “
Fearful when others are greedy and greedy when others are fearful.”
Warren Buffet . Be extremely careful when prices rise like this... Check the MC to see if you think its over-inflated. Runs like this have people chasing the carrot, and it just keeps snowballing until it finally looses momentum and gets dumped by profit takers.
3.Stop-loss. This is a perfect example for the use of a SL. They cost an extra $15 or so depending on your platform... In this case could have saved you 10k+. Not always necessary, BUT is a necessity if you have large positions and if you are AFK or away from the screens...
4. Buy in the dips. "
greedy when others are fearful" Perfect example... May 13th, it had a huge run, dropped and consolidated at 6c. Good time to buy if FA and MC checks out(i dont follow this stock much so IDK if it is a "buy"). It rose up to 6.4c before "bad news". Up 6%, you could have altered you SL say from 5.5c to 6c. With the latest"bad news" you would have got out for brokerage... Now if you still liked the FA of the company, you would be able to re-buy in the current lows and only be at a few hundred $ loss.
Now, im no pro nor do i claim to be. Just trying to reinforce some fundamental rules in the stock market to some new blood. If the reason for your holding was for a nice 10/20/30% trade in a day or two. I might suggest(if you want to make these trades but have commitments) that you do step 1,2,4. Then setup a Stop loss, and put your shares in sell queue @$xx.xx and tada!!! you have a trade that will either get stopped out or sold for target price!
* i don't use this way of trading but it could be useful to some. Just broadening people knowledge base
Research research research!!! Also try to get into these type of stocks early! Find them before the horde!
ALSO!!!!!!!!!!!! I see alot of people saying avg down... WTF WHY? thats just going to expose the OP more. Yes if things go good he will re-coup losses quicker, but it will also expose his portfolio a great deal more to negative news. Diversification can sometimes be better.
*not advice just a opinion
I hope all goes well for you
@ash68. Makes me a little sad when i see people with big losses.
Just my 3.7c worth...
ALL IMO, DYOR
