Today I sold off ZZZ.TO - despite it rising yet again. Might as well get out while I'm ahead, right?
The balance sheet that was posted was helpful in seeing where folks were coming from - thankyou - but I am really not any further ahead for having read it. Yes money may be being lost today, but isn't that why ZZZ had its IPO a few months ago - to restructure and change and make a recovery possible? Isn't the rising price today reflective of that change? I'm not challenging everyone's thinking, just asking questions and trying to outline what I'm seeing.
Or is the thinking that todays rise shows that things are turning around, but now it will just level off until another big announcement comes up, get out while you can, and go for the security of the ETF?
The sale of this stock cost me a whopping $5 - and of course the $5 on the buying end. I made $14 out of my investment, paid $10, and ended up pocketing $4 - big trade, I know, but that was the intent of the $100 mad money account - to learn this stuff - and its sortof working?
I'm going to try to find some of the books referenced in the thread - but lately reading has been less and less appealing to me. I don't know if its a headspace issue or an eyesight issue, but even enjoyable reading is no longer enjoyable. I've tried to get through a few books lately on the subject of investing/trading, but haven't gotten far. Short articles are about all I'm getting through. Even reports at work are getting cumbersome. I was hoping that between this space (MMM) and a small fun account I could learn the hard way - apparently that's a bad idea. OTOH, My money is still in VCN, and I'm out of ZZZ, so maybe its working??? I'll tell you in 10 years.
As for the $$$ I got out of ZZZ - well, I slid it over to VAB. I thought about putting it into another stock (NFI.TO) just for fun, but the advice here to learn something rather than play with money was banging around loudly in my head, so its safely with Vanguard.
Thanks for your ideas and sobriety guys, still trudging.