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.
My point is you've won. You're asking if you should continue to gamble with your winnings.
So the downside is the upside of the other choice. I get that.
Up to you there, but if you got out today, you for sure won. Tomorrow morning could be a winner or a flop. Who knows what executive order Biden puts in to stop all this shit.
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.
My point is you've won. You're asking if you should continue to gamble with your winnings.
So the downside is the upside of the other choice. I get that.
Up to you there, but if you got out today, you for sure won. Tomorrow morning could be a winner or a flop. Who knows what executive order Biden puts in to stop all this shit.
That being said I didn't sell.