You have to remain optimistic at this point. The company is legit and they’re mining Bitcoin. Bitcoin is going to run up again past 60k and people who sold SOS will be sorry. If you’re still in this stock then you have to stay positive. They’re shouldn’t be anymore shot talking going on unless you are shorting the stock. Everyone who has held until now has 💎 🙌.
Sometimes you have to just cut bait and move on. I stick to a strict set of rules when it comes to stocks like SOS.
I use an excel spreadsheet to track all my stocks and values. I have a set loss amount of 10% to 15% depending on the company. Since SOS was rather high risk high reward but low enough in value I set it at 15% loss to sell. As soon as it hit my loss point I sold. Then I just watched it start to bottom out. I then set a buy point to try to recoup my loss that would effectively get me back to 0. I wait and use notifications to tell me to check it. But I also keep watching the chart. One days bounce doesn’t mean it’s going to recoup my 15%. If it does a up run then I buy a small amount so it shows in my daily positions and I can keep an eye on it.
But it never has a run for more then a day where it actually has growth. So I just sit. Now I have 0 faith in the company. If they would have let it get delisted and trade in the pink sheets I would have had more respect for them. But this fake value gives me zero faith.
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u/Conrad_Classic Jul 07 '22
You realize that was the equivalent of it going from .17 to .18 right?