RE:RE:For what it's worth I sold 90% of my positionHi Shock,
I will always be as forthright as I can. I agree with you that I did in fact sell on some fear and emotion. I would just like to give you some more context, first my time horizon was only 1-3 years from May 2019, so I was looking to exit in approximately 2 years (2021) if everything worked out perfectly (which it never does). I also had about 30% of my entire net worth in this company (about 95% of my portfolio in the score). If I had a much longer time horizon (ie. 5-15 years) and wasn't so invested I would not be selling here but instead averaging down. Unfortunately I don’t have any more capital to average down and with the possibility of a pandemic, uncertainty of Canada legalization this year, and competitive landscape in the US, I think it may take longer than 1-2 years for the return I was expecting. I agree this is very dangerous play to sell but that’s the risk I’m willing to take, hence my nick name.
I quit my stable full-time job to be a sports bettor and now have slowly been moving my capital into financial markets. I would also like to add I've only been following since May 2019 and we've only really moved on strong NR's. I agree there could be a few that could make this take off, but I personally don't expect that given what guidance we were given last earnings call. I also don't expect earnings to be very positive at least for the next two quarters based on what John outlined in the last earnings call so I personally am betting on this not to take off until at least end of the year or if we hear very positive news on Canada legalization which I will be following closely especially with the help of you guys posting related news and articles.
If I could go back in time to last Tuesday when I sold not knowing how the markets played out, I would have sold less than 90% of my position given my situation and used that capital to average down as I still believe in this company.