Thinking It's Time to Sell
Hi, I am looking for some really honest opinions here. I have had this stock since 2012, my average cost is like $9.61. This has been dropping in price with no end in sight. Now I am faced with the decision whether I should take a large loss (this stock is in my RRSP). If it had paid a dividend, it can be more palatable, but it hasn't not just been going sideways, but it's been going down.
I bought in because of Nolan's reputation and because of the SSL streaming model. I thought that by buying gold at a fixed price, that SSL, whether in good or bad times, can still stay profitable.
I was also a shareholder of SND, and we all know what happened there. Trusted Nolan and saw the bad deals and the eroding investor confidence. I am wondering whether Silver Wheaton was purely luck. Lost a lot of money on SND and when some of the shares were converted over, I didn't mind having more SSL shares...but it has just been going down and down...
I understand the sector is also struggling. And price of gold has a signficant impact. But I've now owned this for 2+ years with nothing to show for it...I could have just put it in an index fund and made some money...or a dividend stock and collect the dividends.
I am in my 40s, single income family, everything else in my RRSP is doing well except for this. I don't have a lot of spare disposable income and so I am wondering whether I just acknowledge that I didn't make a good choice here, and sell for a loss and move on....or do any of you see any hope here? I hate to sell at a price this low given my average price paid is much higher, but perhaps this is better than waiting another year and it's down to $2.00...
Thoughts?