A few months ago, due to some disasterious dealings, Telecom stock plummetted from $6 per share to under $5. At the time, I was saying "Yeah, you should buy some of that stock, it'll go back up, so now's a good time to get it." So, putting my money where my mouth was, I did. Got some shares for $4.60 per share.
And then the stock fell further to less than $4 per share...
It has now slowly crept back up, and is sitting around $4.90 per share. Due to needing to pay transaction costs, etc., I have now gotten out of the share market without losing money, but not gaining either.
(And, to be honest, even if it had hit the previous level, I wasn't going to be rolling in big bucks either.)
This all means that, according to Murphy, the stocks should now rise to $5,000 per share!
Friday, 12 January 2007
My brush with the share market
Posted by Jamas Enright at 08:51
Labels: New Zealand
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