I know it was a stupid act. I ended up buying 100 Snap shares @25$ current price is around 14-15$ around 1000$ loss. Should I wait or sell it immediately???
Me too. I sold some of them the day after ipo at 27 but kept a few for longer term. Now I have lost more on the few I kept than I gained on the ones I sold. ๐
I'd sell that shit hard
Lesson from a failed trader. Never buy anything without knowing what your exit point is. Only you, know how much pain you can endure. Or how much profit is enough.
This is true. I would just add that profitability and SNAP are not things that go hand in hand. Evan spiegel himself alluded to it during his pre ipo investor conferences
I trade derivatives, not individual stocks. But the sentiment holds. I've heard of Evan Spiegel. He sounds like a nice young man. He may even believe in the things he says. Ultimately, that matters little. Just ask Mr. Jack Dorsey
Keep them until you retire. Seriously. Your max downside is $2,500... this is peanuts. It's perfect for a gamble. In 20/40 years it might be worth a lot more.
Great advice, seriously
2500 is peanuts y'all hahahaha
Buy more to make avg price lower.
That's an interesting tactic.
Until it never comes back up and you're out ten grand
It depends, such a low value, if $2500 is worth your stress. If you don't mind hold.
As Warren Buffet says: You never have to earn back a loss from the SAME stock that caused the loss. Sell it, move on and pick a new winner.
But it's not a loss unless you sell ๐
On that note - is $SNAP worth a buy at this point - they are ripe for a acquisition or they'll fall off like $TWTR
Dunno