Got in low a year or so ago when covid hit. I am up 226% currently and the stock is well above it's 3 yr high. Should I be happy and take my money, or are yall seeing this thing continue to climb? Think I read somewhere that it's target price is $44.
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Noone ever lost money taking a profit, and timing the market perfectly is pretty **** hard. Maybe it will run, but it also has downside risk. You have to ask yourself which you think is more likely - it goes up more or it goes down more. That should help answer your question. Analyst price targets still are speculative, some stocks never hit a price target and some blow through a price target (I'm a former stock analyst myself and spent a good bit of time working in the stock market). No matter what, a 200%+ trade is a GREAT outcome. -
On any individual stock, you need to define your entry and exit points, while adjusting for "new" information or changes in circumstances.Comment
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Also tax implications should be considered. You would need to hold the stock for over a year for it to be considered a long-term capital gain. Based on when it sounds like you got in you are probably close to that threshold and it being taxed at a lower amount.Comment
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Similar with alot of my stocks, Halliburton for example. Bought around $7 or so, it is up to $20 a share. Was well over $40 a few years ago. Thinking about holding out for the next big oil bump.Comment
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Maybe sell some and keep some? Lock in some profits while keeping some shares if it keeps going. Put a stop loss a few dollars before the current price on the shares you keep so that you don't suffer a loss on them.Comment
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Isnt the capital gains going way up this year?Comment
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Clearly I didnt say it was. However it will effect profit.Originally posted by gingib View PostComment
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Its sometimes fun to take out your initial investment and let the house money run.Comment
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I've only played in the market a couple times when it crashed in 2008 and 2020. I don't do this for long term retirement purposes. Just trying to make a quick buck when it tanked. I'm perfectly happy with the return on this one and think I'm going to go ahead and take my money to the bank.Comment
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I did the same thing but sold when I hit 100%. I told myself early on I would be happy to double my money.Comment
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sell enough to cover your cost plus 20% return. let the rest ride!
make sure you held > 365 days for long term gains treatment. If you have some dog stocks with unrealized losses, then sell those to offset your gains. if you want some of those dog stocks to recover, no worries, you can rebuy after 31 days and write off the full loss in this tax year. knowing the rules can really pay off!Comment
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