In a similar boat. I bought AMC at $2.13 a week or two ago, purely speculative on my part, it was at a low point and I figured with COVID restrictions easing it was a long term bet that it would go up... but I was not expecting a jump like this.
Now I am in the position of wondering when to sell. I originally had an order to sell at $20 but cancelled it. I've seen some saying hold till next week, after the GME stuff dies down, but not sure. I don't think it will do what GME did by any means, but I have heard some say $100 is possible.
Well, if I sell at $20 I'll make something like $7,000... If I sell at $100 I'll make $37,000... so ~$30,000 could be the downside selling now. Even if it goes to $0 I only invested $700 or so, so my risk is minimal. Getting out too early can be just as bad as selling too late.
I got in at $3.48, now at $16.73. Wondering how soon until I should sell...
In a similar boat. I bought AMC at $2.13 a week or two ago, purely speculative on my part, it was at a low point and I figured with COVID restrictions easing it was a long term bet that it would go up... but I was not expecting a jump like this.
Now I am in the position of wondering when to sell. I originally had an order to sell at $20 but cancelled it. I've seen some saying hold till next week, after the GME stuff dies down, but not sure. I don't think it will do what GME did by any means, but I have heard some say $100 is possible.
I mean what's the downside of selling now? I can see the downside of holding it.
Well, if I sell at $20 I'll make something like $7,000... If I sell at $100 I'll make $37,000... so ~$30,000 could be the downside selling now. Even if it goes to $0 I only invested $700 or so, so my risk is minimal. Getting out too early can be just as bad as selling too late.