Everyone has a different strategy and I for one am happy to average down on a company I believe in. Especially where the fundamental improvements in the company are moving bottom left to top right while the share price moves top left to bottom right. That spells opportunity to me.
We buy things that are on special or discounted all the time in other walks of life. As long as the product is not faulty, why wouldn't you want to buy more at a much better price? Some of my best returns have come from averaging down on stocks. (RHG and FLT come to mind). Plenty were happy to buy AHZ at 38 cents just a couple of weeks ago. The story has only improved since then so if you believe in the company and can see the operational turnaround it makes perfect sense to pick some up in the low thirties.
The only time it would not make sense is if you are the type of investor who would panic sell if it dropped another 10% or you have a "stop" loss in place that may get hit.
But like I said everyone is different and we all have different strategies and beliefs.
I picked up some today at .315 and I am very happy with that.
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