Dear Ritz: So, I've doubled my money since I ha
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Posted On: 07/20/2020 7:06:06 PM
Re: Riztheinvestor #44012
Dear Ritz:
So, I've doubled my money since I have an average share price of $2.89. Why wouldn't I sell now and take the profit? Because I look at the prospects for the company and think this stock price doesn't begin to reflect the value of the company. If it hits $10 again in the next few days I'll have tripled my money. Should I take profits then? No again, for the same reason.
So what happens if it hits $30 or $50? To me, at any price point one has to decide what the upside for the stock is based on the company's progress towards its many goals. Partnerships with Big Pharma or buyout interest would also factor in as would possible competing drugs cutting into the Leronlimab market.
So it's not the absolute dollar amount at any point, it's how well that price reflects future prospects for the company. If at some point it seems overpriced, then I would have to seriously consider taking some profits.
Now everyone's financial situation is different and that is a big factor in the decision. But, that said, when you hit a home run, you don't stop at second base because you're safely there and satisfied with that.
So, I've doubled my money since I have an average share price of $2.89. Why wouldn't I sell now and take the profit? Because I look at the prospects for the company and think this stock price doesn't begin to reflect the value of the company. If it hits $10 again in the next few days I'll have tripled my money. Should I take profits then? No again, for the same reason.
So what happens if it hits $30 or $50? To me, at any price point one has to decide what the upside for the stock is based on the company's progress towards its many goals. Partnerships with Big Pharma or buyout interest would also factor in as would possible competing drugs cutting into the Leronlimab market.
So it's not the absolute dollar amount at any point, it's how well that price reflects future prospects for the company. If at some point it seems overpriced, then I would have to seriously consider taking some profits.
Now everyone's financial situation is different and that is a big factor in the decision. But, that said, when you hit a home run, you don't stop at second base because you're safely there and satisfied with that.
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