Author Topic: GoPro pains sell or hold?  (Read 1613 times)

wellnessmobile

  • 5 O'Clock Shadow
  • *
  • Posts: 54
GoPro pains sell or hold?
« on: November 30, 2019, 03:41:19 PM »
I goofed prior to my mustachian days and bought Gopro stock. (idiot, I know)

Equity Value (to date): 7,500
Loss (to date): 16,000 (this hurts my heart)

Do I sell and deal with the loss? I would just move the money to my vanguard account and play catch up. Clearly, GoPro is at an all time low so I know that in theory I should be holding at the low. However, GoPro is consistently turning for the worst the last couple of years.

Any thoughts or rationale would be greatly appreciated.

-Happy saving


Buffaloski Boris

  • Handlebar Stache
  • *****
  • Posts: 2121
Re: GoPro pains sell or hold?
« Reply #1 on: November 30, 2019, 04:37:59 PM »
Iím fine with doing individual stocks and own several  although many here might disagree.

They way I would look at this is to do my research; is the company growing in profitability? Do they have a good plan to compensate their investors? In the end, I want to turn the question around: if I had $7500 burning a whole in my pocket, would I invest it in this stock? If not, then why do I still own it?

KBecks

  • Handlebar Stache
  • *****
  • Posts: 2350
Re: GoPro pains sell or hold?
« Reply #2 on: November 30, 2019, 05:08:48 PM »
If it's in a taxable account, can you take the write-off this year for the loss?

I would probably dump it and move on. Is this a large % of your NW?

ysette9

  • Walrus Stache
  • *******
  • Posts: 7573
  • Location: Bay Area at heart living in the PNW
    • The Best Is Yet To Come
Re: GoPro pains sell or hold?
« Reply #3 on: December 01, 2019, 02:29:58 PM »
My husband worked there a few years back and saw the IPO, people dancing around the hallways sharing champagne on a morning she decided to retire, the new Ferraris in the parking lot, and then the ride down with bad morale and everyone leaving. His take was that there was a lack of good leadership which meant that decisions didnít get made, or got unmade, making it hard to produce a good product.

No inside info since a few years ago, but if you made me invest in a single stock it certainly would not be that one.

EscapedApe

  • Stubble
  • **
  • Posts: 226
Re: GoPro pains sell or hold?
« Reply #4 on: December 12, 2019, 09:06:02 AM »
My husband worked there a few years back and saw the IPO, people dancing around the hallways sharing champagne on a morning she decided to retire, the new Ferraris in the parking lot, and then the ride down with bad morale and everyone leaving. His take was that there was a lack of good leadership which meant that decisions didnít get made, or got unmade, making it hard to produce a good product.

No inside info since a few years ago, but if you made me invest in a single stock it certainly would not be that one.

Oooh, this feels like insider trading now.

RWD

  • Magnum Stache
  • ******
  • Posts: 4828
  • Location: Mississippi
Re: GoPro pains sell or hold?
« Reply #5 on: December 12, 2019, 09:13:23 AM »
If you wouldn't buy $7500 of GoPro stock now (assuming you had none) then you should probably sell. It's a sunk cost fallacy to focus on how much it used to be worth. Bonus is that you may be able to use it for tax loss harvesting.

MilesTeg

  • Handlebar Stache
  • *****
  • Posts: 1324
Re: GoPro pains sell or hold?
« Reply #6 on: December 12, 2019, 09:55:53 AM »
I goofed prior to my mustachian days and bought Gopro stock. (idiot, I know)

Equity Value (to date): 7,500
Loss (to date): 16,000 (this hurts my heart)

Do I sell and deal with the loss? I would just move the money to my vanguard account and play catch up. Clearly, GoPro is at an all time low so I know that in theory I should be holding at the low. However, GoPro is consistently turning for the worst the last couple of years.

Any thoughts or rationale would be greatly appreciated.

-Happy saving

Harvest the losses as tax write offs is my strategy when I have a stock that is down and I am not interested in holding.

Xlar

  • Bristles
  • ***
  • Posts: 251
Re: GoPro pains sell or hold?
« Reply #7 on: December 12, 2019, 04:46:16 PM »
If you wouldn't buy $7500 of GoPro stock now (assuming you had none) then you should probably sell. It's a sunk cost fallacy to focus on how much it used to be worth. Bonus is that you may be able to use it for tax loss harvesting.

This is the correct answer. If you wouldn't buy it today then you should sell.

wellnessmobile

  • 5 O'Clock Shadow
  • *
  • Posts: 54
Re: GoPro pains sell or hold?
« Reply #8 on: December 31, 2019, 05:28:16 PM »
Dang, :{ it hurts my soul. haha
It is going to take awhile to break even with a 15,000 current loss.

Roland of Gilead

  • Handlebar Stache
  • *****
  • Posts: 2296
Re: GoPro pains sell or hold?
« Reply #9 on: December 31, 2019, 06:06:03 PM »
Dang, :{ it hurts my soul. haha
It is going to take awhile to break even with a 15,000 current loss.

What size of your investment account was this?   

wellnessmobile

  • 5 O'Clock Shadow
  • *
  • Posts: 54
Re: GoPro pains sell or hold?
« Reply #10 on: January 02, 2020, 10:02:48 AM »
The loss is around 14%.