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Message
My Bag is doing reverse Split....Sell or Hold?
Posted on 11/18/23 at 12:19 pm
Posted on 11/18/23 at 12:19 pm
Got into what I thought would be a good Covid recovery stock (RGS) but it has not panned out like I hoped. Was trading in upper teens Jan 2020 and I started accumulating at $4.00.
I am in for 20,000 shares at just below $2.00 but stock has cratered to .40.
Company just annoucned a 20-1 reverse split to stay listed.
Trying to decide if I should just keep holding this bag in case they recover or eat the loss and pull my remaining $8K out. My gut tells me that they will eventually recover...it is a hundred year old company and still the largest haircare company in the world. Transitioning to a franchise model and managing some debt is going to take a while....but, at $8 a share there is plenty of room to continue to fall.
Any thoughts?
I am in for 20,000 shares at just below $2.00 but stock has cratered to .40.
Company just annoucned a 20-1 reverse split to stay listed.
Trying to decide if I should just keep holding this bag in case they recover or eat the loss and pull my remaining $8K out. My gut tells me that they will eventually recover...it is a hundred year old company and still the largest haircare company in the world. Transitioning to a franchise model and managing some debt is going to take a while....but, at $8 a share there is plenty of room to continue to fall.
Any thoughts?
10
Posted on 11/18/23 at 12:37 pm to Barrister
quote:
My gut tells me that they will eventually recover...it is a hundred year old company and still the largest haircare company in the world.
Based on that information, if you weren’t already in it, would you be tempted to buy shares at the current price?
Posted on 11/18/23 at 12:43 pm to Barrister
RadioShack was once the biggest electronics retailer.
Posted on 11/18/23 at 1:09 pm to Jag_Warrior
quote:
Based on that information, if you weren’t already in it, would you be tempted to buy shares at the current price?
nope
he is rationalizing grasping for straws to hold like that other poster yankee whats his face was doing.
he is screwed
dump that crap
Posted on 11/19/23 at 5:39 am to Barrister
quote:
Any thoughts?
You have a lot of shares (or did prior to reverse split). Probably should’ve been selling covered calls to generate income and reduce your ASP while it was in free fall.
If they have decent management maybe it can turn around a bit during the restructure, but the odds aren’t great.
If you think it can turn, sell some OTM not too far out calls on up days and you can chip away at the loss.
Posted on 11/19/23 at 6:15 am to Barrister
There’s a reason companies do reverse splits, and it’s not good.
Posted on 11/19/23 at 7:10 am to Barrister
Bad news when the reverse splits usually starts. The success rate after this happens is extremely Low. Could you at least sell half ? At least this way if it ever does recover you still have some skin in the game and it also gives you some cash to use elsewhere.
Posted on 11/19/23 at 3:58 pm to Barrister
I haven’t had many, maybe two or three, reverse splits, but they never recovered.
Posted on 11/19/23 at 6:25 pm to Barrister
Reverse splits are never good. Only one I can think of recently that worked out was General Electric.
Posted on 11/19/23 at 7:32 pm to Barrister
quote:
I started accumulating at $4.00. I am in for 20,000 shares at just below $2.00 but stock has cratered to .40.
Prayers sent dude
Posted on 11/20/23 at 8:32 am to Barrister
My only good experience with a reverse stock split that I can remember was with Atlas Lithium. There was a huge reverse stock split in 2022. My multiple thousand shares (10,000 ?) became the 14 shares that I still own. As of this morning it is up 74%. Still only worth $330.00.
Posted on 11/20/23 at 10:54 am to Barrister
I’ve gone through 3 in recent years and 2 ended poorly.
Still in OWLT, which did a 1:14 RS this past July. She’s holding up well and the company has since received two FDA clearances. We shall see.
Another position I’m stuck in, biotech APVO, is facing the same fate. I feel less confident with APVO but I’m continuing to buy in order to lower my basis. Biotech feels like roulette.
I guess it partly depends on the fundamental upcoming catalysts for the company. Also your tolerance for staring at big ole fat red number.
God speed.
Still in OWLT, which did a 1:14 RS this past July. She’s holding up well and the company has since received two FDA clearances. We shall see.
Another position I’m stuck in, biotech APVO, is facing the same fate. I feel less confident with APVO but I’m continuing to buy in order to lower my basis. Biotech feels like roulette.
I guess it partly depends on the fundamental upcoming catalysts for the company. Also your tolerance for staring at big ole fat red number.
God speed.
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