Hey Blind community,
I'm new to the investment game and have only invested a small amount of money that I could spare. Currently I have a couple investments that are doing exceedingly well like Tesla. Should I sell now and buy stock elsewhere or keep my tesla stock ? Currently at almost 600% return on investment for tesla alone
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On the other hand if you believe in the company and can see that Tsla or any other stock you own can go x times more in the future - then don’t.
If you're flipping stocks regularly for profit, then you scored big - generally best to stick to your original exit strategy when you bought in.
If you're an investor, sell if you believe Tesla's product roadmap and demand have peaked, but hodl if the company's mission aligns with the future you want, and/or the company is innovating faster than its competitors.
If you're truly investing, then it's not smart to keep exiting and entering a position. Just dollar cost average if it goes down because that will still support your long term strategy and belief in the company. There's also nothing wrong with skimming a little off the top. I usually trim 5-10% of my gains every year, even on my long term holdings and rebalance elsewhere. Maybe that's a good compromise strategy for you.