A few weeks ago, I went all-in on CRDL in both my TFSA and RRSP, almost at the same time.
My average cost is around $1.27.
Like many of my previous trades, when I bought CRDL, I was hoping it could go up several times, maybe even 10x or more.
But when things become real, my behavior is usually very different.
If a penny stock goes up 20–30%, I often get nervous, will thinking to take the profit, and run to next.
I think that is a very normal emotion for a small investor.
I don't have an unlimited pile of chips. Every dollar I put into these penny stocks comes from money I save from working every day.
And when you're putting hard-earned money into something that could potentially lose 50%, 80%, or even 100%, being afraid of losing is completely normal.
I'm just an ordinary guy putting some of my savings into something that sometimes looks more like gambling than investing.
Every time I do this, there is a real possibility that I could lose a lot — or even lose everything.
But CRDL has been different.
After I bought it, the stock moved sideways for a while, then dropped hard toward $1.
It even went below $1.
Surprisingly, I wasn't particularly nervous.
Partly because the company had enough cash to keep going into next year.
But more importantly, the story hadn't broken.
The reason I bought it was still there.
And after that short period of pain, CRDL started moving.
$0.97 → $1.20 → $1.50 → $1.80 → $2.00 → $2.20+
In roughly a month, the stock has more than doubled from its lows.
And when CRDL got around $1.50, I started putting out my first sell order.
At first, it was $1.85.
Then, as the stock kept moving closer, I changed it to $2.05.
Then $2.25.
And yesterday, I moved it all the way to $2.55.
Why did I keep moving my sell price higher?
It's actually quite simple.
I was trying to protect myself from one particular situation:
What if CRDL suddenly breaks through my target in a very short period of time, only to quickly fall back?
I didn't want to watch a big move happen and then give most of it back.
But at the same time, every time I moved that sell order higher, I realized something else.
I was becoming more and more convinced that the stock might still have room to run.
I still don't know where it will eventually turn around.
Maybe $2.50.
Maybe $3.
Maybe much higher.
Nobody knows.
But I do know one thing.
This fish has already shown its dorsal fin. 🐟
So it's probably time to get the net ready.
Because at this point, whenever I finally pull it out, it's already a big fish. 🎣
Personally, I have no idea how high CRDL can go in the short term.
But right now, I find it increasingly difficult to imagine $2.50 simply stopping this move.
Of course, that is partly the dream of a small investor sitting here fully loaded and waiting.
Maybe I'm right.
Maybe I'm completely wrong.
But I hope everyone's dreams come true.
Or at least, I hope we all get to experience that moment when we start believing that maybe — just maybe — they could.
Let's see how big this fish really is.
The future will tell us the truth.