What stock do you currently own that been “a loser” for the longest time that you have not sold yet? 🤔
I’ll go first : $OPFI
LCID not that much of a loser I just own a lot of shares which makes it a loser right now lol. Let’s hope earnings later changes this
@from100kto1m probably close to it. For some reason not all my stocks and shares are connected into Commonstock but I own a lot of lucid because I owned it for the past year. It’s been one of the companies I’ve followed since the beginning. Yes I bought too much but I’m kinda just chilling not adding just believing in them. Adding to everything else I love know that. When I first started investing I tried to do one hit wonders which is why I own so much of lucid. And no I don’t wanna give up on them just wanna add to my other growth names now that I own and love. Like they say it takes time to figure out your own way to invest and in the beginning I wasn’t right. But the past 6 months I’ve been adding to a lot of my other favorite stocks that I have been studying
@wjared if you look at the comment I sent to yegor it explains why I own so much. Idk about a power move but it’s a company I know so so much about. I am very over weighted I know that and I have been adding to my other names alot. To be honest I realized it takes me a while to fall in love with a stock. After lucid I’ve done research on Spotify and Nvidia for the longest time. Also own Airbnb and PayPal to round out my growth names. Also own alot of dividends. But my logic is a small concentrated portfolio 10 names that you truly know and love is how you get rich. Just so happens I own so much lucid but you’ll see me bringing the percentages up in my other names
@wjared idk how you can track more than 10 lol. Like there’s no way if you own 30 names you can truly follow the company and understand everything there is to know which is what I like to do. The last 24 hours I had 4 stocks report and still one to go this afternoon in lucid. I’ll be reading those reports for the next few weeks lol
@investmenttalk I have a very small position so I don't see any downside in letting it sit there in terms of opportunity cost. It's more so for me to have skin in the game and to be invested enough to follow the company. If it turns out to be a winner my learnings about the company would be a worthwhile in terms of investing takeaways
Invitae $NVTA but I just sold it recently. I used their service to get a genetic test done and could see the clinical value. But they just burned to much money and the market isn't quite there yet. Was down like 94% and the position was negligible but finally decided to let it go and see how they regroup after the CEO left.
@investmenttalk Jack Ma spoke out against the CCP, how they inhibited innovation etc. CCP then shelved ANT IPO the next day. Put Ma on house arrest. And has been generally not nice towards the tech sector since. BABA had to changes some policies and pay 2 large fines. ANT had to change some things also. And finally CCP wants Ma to not control BABA and ANT. All these concessions will hopefully allow ANT to move forward with its IPO again
@investmenttalk looks cool
$BBBY At once time nearly 15% of my portfolio, Now just 1%. Not all loss though sold down to 7% and have held since then.
@investmenttalk the original thesis revolved around Mike Triton. Hand picked by three fairly well known activist investor firms who wanted to replace BBBYs CEO for underperformance.
Triton was perfect. Just got done completely overhauling Targets entire in house brand department as well as refreshing the online shopping experience. Tons of experience everywhere in retail. Might as well put him in $BBBY to fix the place up.
It started out tremendous. Four new in-house brands a completely new look for the stores, refreshed online shopping experience, selling off non-core assets. Also handling 2020 was a breeze and BBBY had faster online sales growth then any other retailer anywhere apart from Best Buy for a quarter.
BBBY had tons of extra cash from asset sales and instead of fixing supply chain stuff and making the shopping experience better Triton decided to buy back about 50% of the outstanding shares in 2 years. Wasn't a great plan.
Now $BBBY is out of cash and is piling on debt to reorganize and continue the store refresh idea. I sold the majority of my position when BBBY announced their partnership with Kroger. While it was great news and caused $BBBY to go up 100% the next day i figured it wouldn't last long.
I wanted to wait one more quarter to see if things would worsen before cutting the rest of my loses. Triton announced he was stepping down and now there is a glimmer of hope again. I'll keep my shares until i reevaluate and see who the new CEO is.
My absolute worst so far I think is a company called NMC Health, a healthcare chain in the UAE which trades on the London Stock Exchange. It seemed to be a great, asset-rich company and for a while was a great stock. After a financial scandal though, the shares were halted while the company was placed in "administration" and a reorganization is still underway, years later. I still technically own the shares and they appear in my brokerage account, but they're not hosted on any exchange and there's no way to quote or trade the stock while we await the outcome of the administration process. After all is said and done and the banks (who in this situation likely take precedence over minority shareholders) get theirs, I except my shares to most likely be worth $0. Still good for a tax loss though.