RE:RE:RE:For what it's worth I sold 90% of my positionI dont mean to be rude or scolding, please take this as tough love.
Guys, come on, you never put 30% of your net worth into any stock. Absolutely not 95% of your portfolio into one stock. This is finance 101. The main reason for this is you get too emotionally invested. The swings will stress you out like crazy, you will lose sleep, and you go from thinking rationally to foolishly. This is the main reason for diversifying. Also, obviously, you could be wrong and lose everything.
Now I do believe in concentrating into high convinction stocks, but for me that means at least 10 stocks with a maximum of 10% each. For the investing community this is extremely concentrated.
The only way I would consider increasing this percentage is if I know with certainty what is going to happen with company or if I'm in an insider, CEO, Director, etc. at that company which I am not and have never been. Even then I would never go all in. This isnt poker. You cant invest with emotion and fear, you have to have a robotic approach. Guys like me will take advantage of this fear as I was buying on Thursday and Friday. If this was poker, im at the table with a bunch of guys on tilt and taking all their chips.
What does the coronavirus have to do with a scores app. Nothing. This is people panic selling and margin calls. Nothing else.
I'm curious what is the plan now? Are you going to gamble, hope, wish, and pray the stock goes back down to 50 or 40? Are you going to go back in when the all clear is in and the stock is over a $1? This is why you allocate a 10% position, hold, and monitor. If something changes fundamentally with the company I can understand selling, but the fact that the price goes down for no reason is not a fundamental reason.