I am trying to decide if I should buy more shares of this stock that I am holding 10K shares of.
- I paid 85 cents a share a couple months ago when I purchased them and now the stock is down to 17 cents a share.
I also just don’t know if the company is going to survive or go bankrupt, that is the gamble that my friend and I take when buying stocks like this. If I simply decide to buy $2000 of shares I could get almost 12,000 more shares, putting me up to about 22000 total shares. My HVAC rep told me that the company will survive however it is going to take them a couple more years to get their act together. If I had 22K shares and the stock managed to hit the $10 mark one afternoon I would have almost a quarter million dollars. But if it actually tanks and goes to zero then my heating and cooling savings will dwindle down to zero. It is tricky because I have no idea if this company is going to make it or not, all I know is that they have been laboring on making cars for nine years now and just started producing them. The a/c and heating system in the cars is undoubtedly good and it is a good selling point, however the $200K price tag of the automobile scares me because who has that kind of money to shell out for a car? I’m also undoubtedly not sure what to do although I feel time will decide for me pretty soon.