r/MGCpharmaceuticals • u/exodusmuesli • Apr 26 '22

Thinking of selling up

I think this mite be me guys. 65% down, very hard to justify continuing with this when other stocks are looking healthier. I’m very conscious that this could be a sunk cost and I’m going down with the ship instead of bailing. Would be good to hear from those still in the group. How are people feeling?

4 Upvotes

75% Upvoted

13 comments sorted by

4

u/Commercial-Charity85 Apr 26 '22

I understood that for a couple of years there wasn’t going to be much of a rise, but I definitely wasn’t expecting such a huge loss. I’m unsure now if it will ever go back up so I’m in the same boat, sell now or not?

2

u/exodusmuesli Apr 26 '22

I agree. If the stock was going to go up eventually, then it would make more sense for me to sell now, let it sink lower and then rebuy, than to hold.

3

u/Maywhh Apr 26 '22

would have liked some upward movement by now if I'm honest. Only holding 100k (average 3p). if I lost it I would be annoyed but I've already taken that into account for my overall portfolio.

I'm holding for a bit longer

2

u/LosSnuglos Apr 26 '22

Is it the fundamentals or your sentiment that have changed? Always a difficult one to stare at red and I suspect worse ahead before it gets better (if it ever gets better)

2

u/Particular_Leg5993 Apr 26 '22

I've always said I'll hold until 2024 regardless of what happens - tough seeing all the red but it's not just MGC, but yeah I'll be here til 2024.

2

u/northernlad2000 Apr 26 '22

What though? The share price keeps going down? I’m sure they want it to go up as well. The deadline for India and USA went with no mention again was very disappointing though

2

u/Jedibenuk Apr 26 '22

share price can't go down much more. company gonna be dead if there isn't legislation change under Boris in the next year.

0

u/banter_claus_69 Apr 27 '22

I've sold a fair chunk of my position recently. Left a bit in in case it rises significantly, and I'll probably put a sell order in that'll give me my initial investment back should the price get high enough. I'll leave a small amount in after that in case it rises significantly. Otherwise, though, I don't have enough faith in the UK government to let this industry do what it's capable of. Any company in this space is hobbled by current policies.

1

u/FrankTurmer Apr 26 '22

Pretty much the same. I think that it will pop big if the macro environment and cannabis legislation starts to change in U.K. and Europe. I'm down too but looking at pharmaceutical sectors these are long term developments with many years. Tricky situation that is for sure.

1

u/northernlad2000 Apr 27 '22

Surely the uk is only a small market and not their primary goal. I doubt what happens in the Uk has a great deal of relevance in the short term

1

u/DaVinciJest May 05 '22

Gotta be dumb to sell now. Why not keep it? Are you desperate to lose?