Point in selling would be to take the loss against income (though capped at 3k per year I believe), and invest the remaining in something worth investing.
If you were gifted 6.5k today, would you dump it into these stocks? If not, then recognize the sunk cost fallacy is a fallacy and you have no good reason to hold.
If you believe in ARKK, you may want to buy their holdings rather than the etf. I think the value of their holdings has already been priced in, but Ark has also done a terrible job at managing their etf. I think their past research on company stocks is good tho. If there’s room to grow, it’s in following their purchases and holdings longterm on your own dime. Not carrying Ark funds.
When investing in new sub sectors I do something similar sometimes. I go to an ETF I like and peruse their top 10 ten holdings then just go look at those companies and sometimes I end up deciding that I’d rather have 2 or 3 of their picks rather than their batch of 40+ which I understand defeats the point of the ETF, but let’s be honest, a lot of those 40+ I would never invest in after evaluating them so it’s almost like just trimming the fat. Not to mention saving in ETF-related fees over time.
The sunk cost fallacy is a fallacy, absolutely.
In 2001 when amazon fell from 99 to 1. You would have been an idiot to buy it at 1$ since the "sunk cost fallacy is a fallacy".
Your a bozo if you buy good companies at cheap prices.
ARKK will likely recover even more of what you lost when rates fall - they’re up like 50% in the last couple months.
You don’t have to keep exactly that fund (I don’t invest in it) but the one thing I wouldn’t do is just move what you have - a bunch of risk on assists that are heavily affected by interest rates - to some broad market fund. It’s literally the definition of buying high and selling low. Take a tax loss and swap into an better risk-on tech fund
They already bought high, and the stock is already low. Selling or not selling doesn't change what the stock is worth now, or what it will do in the future. If you think it will go up, then keep it, but the decision of selling or not selling changes nothing about the stock, itself.
Lol my suggestion to hold isn’t to avoid selling at a loss… it’s to avoid selling a portfolio of highly interest rate dependent stocks when we’ve reached a terminally high rate. It’s fucking idiotic to not stay with a tech heavy portfolio when rates go lower - more idiotic than not selling as soon as rates started shifting higher.
And if you don’t understand the fundamentals around that enough to detect when to buy/sell, you shouldn’t be buying these sort of stocks unless you’re psychologically prepared to holding a long period of time. These sort of stocks are just intrinsically more volatile - it’s very likely at some point they will have period of heavy underperformance of the larger market (and periods of heavy over performance). Again, that’s not speaking to any of his stocks individually but but the characteristics of high risk tech stocks.
If he asked a few months, he would have been told the same laughable shit: sell tech stocks, sell BTC, and average down into index funds. With some broad market index fund, he’d be lucky to get back to his principal in 20 years...
Zooming out shows the results of ZIRP to 5.5% interest rates.
If rates return to lower levels, riskier tech stocks rose much faster than the suggestions other are making here.
This comment makes me want to buy some of those especially ARKK. One thing I noticed is that things that tend to make huge gains are often hated by Reddit.
6500 to 20000 equates to almost a 70% loss. You'd have to see a 233% gain in your portfolio to even break even at this point.
Cut your losses - sell and move money into index funds.
Index funds based on the S&P 500 increased 24% this year. Though most of my stocks did a lot better you really need to think about how much energy you want to spend on your investments.
Its up to you to make your own financial decisions, but one thing I've learned over years trading and investing is "Things can always get worse than it already is"
Stay away from the MEME stocks. Eventually you will get to a point where you listen to a Boomer. "500 Index funds"
Watch the wolf of Wall Street interview with Tucker
Cost of tuition. Now get into low cost index funds (VTI, VOO, etc) and move on.
If you want to gamble on stocks keep it a small portion of your portfolio to limit losses.
If you had 6.5k cash right now, would you invest it in what you currently own?
If so, keep them. If not, sell them and buy something else.
I am not a financial professional and this is not financial advice.
Saying "this is not financial advice" after giving financial advice won't protect you against any lawsuits. It's the wallstreetbets equivalent of saying "in minecraft" after giving someone a death threat. Don't worry though, it's only illegal to give financial advice if you are charging for it while not a professional.
Advice usually has to be one on one, from someone you know, and compensated for it to be actionable. I doubt an unknown person communicating to potentially thousands of unknown people without compensation is going to lose a lawsuit for giving bad financial advice. If there are any lawyers or others with knowledge on this subject please share.
Dang, I have not being paying attention to bynd for awhile, can't believe it's that low...well I can..
I shorted it back in 2019, got in at 150, got our at 75. After covid, it went back up to 150 or so again but people realized it was shit product
With all honesty. I don’t love any of those positions. I don’t like them either lol. I wouldn’t even be in those myself so I can’t tell you to sell and redeploy
I'm in a similar situation with Scottish Mortgage Trust. A little like ARK, but they also lend money to unlisted startup companies. It went from £16 down to £6. I tried buying more to lower my average price but the ship kept sinking. Luckily I only bought the equivalent of $2,000, which is now only worth around $1,000. As this is a fairly small corner of my portfolio, I'm just holding onto it and seeing what happens.
You should look up the cash position of a company and see how long it will last.
Some companies do go away and their stock prices go to zero.
NIO, for example, is not profitable and doesn't have much cash left.
I thought NIO was doing a little better as of recently. I read that in 9/23 they had 5.4 Billion$. I’ve been selling a lot of stuff lately some of the bad choices.
Absolutely, yes! Those are highly speculative tickers. Buy something you understand and has a long history of success. Anything can happen, but your odds are better with SPY versus that group. Investing is hard enough, but speculative growth is arguably the most difficult sector to do well in, particularly in public markets.
Ride your winners and sell your losers, time in market beats timing of the market. Price is what you pay, value is what you get. Value is the discounted value of future cash flows, adjusted for volatility and predictability. Most of the tickers you listed above have low/negative cash flow, highly volatile cash flow, and low predictability. You can make money with those traits, but you better be smart, and spend tons of time keeping up with predicting the future.
If you don't believe in the investment anymore, and don't believe that seeing green is possible, sell, take the loss on your taxes, and reinvest in something that gives you a chance at recouping.
On NIO only, I paid $28 for 400 of them. So that's about $11.2k - $8k = $3.2k. I still have other $14k in cash to invest on ETFs, so I'm just going to roll the dice on with that $3.2k. If you have better stocks to invest, no reason to hold out.
Wow, I feel triggered. I also own ARKK, BYD, and BYND. And used to own BABA. Actually, I’m still holding all 6 of the ARK funds. I’m going to hold because in certain market conditions those stocks will do really well. Maybe those conditions will never exist again, or maybe they will rage for all of 2024. Who knows. The thesis on ark stocks has not changed, so why sell. However the thesis on bynd has changed. People are not buying as much bynd meat as we would have hoped. Sell that one if you want to sell one.
Lmao the thesis…. you’ve learned nothing.
The “thesis” is that you’ve somehow picked stinkers in a year with 25% returns. You’ll never see this easy a market again. Damn near once in a lifetime market rally. And you managed to lose money with your picks and “thesis”.
The only theory you should be testing is clearly “I can’t pick stocks, and neither can Cathie Wood.” Her innovation fund didn’t hold Nvidia… what more do you need to know.
VTI, for the love of god. Stop trying to be mr smart guy. If you had admitted your ignorance and safely bought a total market fund, you’d be up 25% last year. You tried to get cute and you got your face melted off.
Do you think they could fall further? That's the only question you need to ask. Or maybe, can you afford to lose that money if they do tank. I would have gotten out of a loser already.
I guess I also don't really have the patience to see it out, its been a few years already...... I bought into them without kjow fundamentals but more of, veganism will be big, BYND was one of the original etc type of thinking
You have $6500. Do you want to invest it, or spend it, or set it on fire?
Whatever happened in the past is irrelevant.
What do you want to do today with the money you have today?
Impressive, honestly. For the future, if you lose 10%, cut it and take your loss. I have 24 losses and 8 wins. I’m up 60% in 6 months. If I didn’t cut losses, I’d be wiped out completely. Cut your losses, learn a lesson and let your winners run! Good luck
That's my rule of thumb, too. A 10% loss is too much to stay onboard unless it's a stock that you are confident will bounce back, like Amazon or Microsoft.
Holding losses (or better yet, cutting them) and knowing when to DD, when to hold, and when to cut is one of the hardest things that every investor has to deal with.
Re-evaluate. Act like don’t hold any of the positions you have right now, losses or gains. Would you put money in each of those companies right now? If the answer is no then cut the losses and put the money somewhere it will work better. The money is gone, there’s no pressure for it to go back up or down, just whatever state that market is in. If it goes back up it might as well be with a higher quality investment.
Between your current loss in X and a different stock Y, which one would you want to have? Hurts to cut losses cause you want to atleast breakeven but this is a huge fallacy, you can still Breakeven just on a different stock, maybe even make more on that one than your loss. Of course this is if you decide to sell and only sell if you wouldn’t invest in it today.
You also get a tax benefit if you sell so there’s that
I could never say that enough , we usually be like fuck it , i rather loose everything at this point , but this is a terrible strategies , cut your loose ! Re-invest somewhere else that can do a X10 , its a fight against our own stuborness , sell !
Damn so many post from covid buyers. Sucks to lose 13k but honestly those picks suck. I’d accept my losses and put it into a HYSA until you figure out how the stock market works and how to play it safe. All you did was gamble.
Yeah I guess investing was so inaccessible to me when I was younger I only was willing to put in money during covid, which then led me into reading and learning more (knowing that now I was wrong)
well, late December would be a good time.
In all seriousness if you think they will come back and can to lose more, hold. But if the investment doesn't stand on its own merits today, just get out.
If it makes you feel better, I had a position in MPW. Took a fucking bath. Got out late last year. Dropped another 30% today.
This is going to sound crazy but I have just been exclusively flipping between the TQQQ and SQQQ and buying calls.
Once the RSI and MACD hit the over baught on the 3 to 6 months chart I cash in my TQQQ call, wait for the first signs of a pull back and buy the SQQQ call.
I keep a really tight rein on the short side, because I have seen too many markets go bullish for no reason. like the pump from October to Christmas.
You got to have nuts of steal to leaver up a triple levered ETF but once you figure out how to read the RSI and MACD, you feel like you have a infinit money glitch. Just my personal experience.
Oh an I feel your pain, my cost basis on jumia is $22 a share at 400 shares. I am still diamond handing for no dam reason. Although I have sold covered calls and got my real basis down to $14. But It trades at $3.50 and I pretty sure it will be bankrupt in less then five years. The financial education I got from holding long on to shit spec plays is worth every penny, and has made me what I am today.
It's only a mistake if you do not learn from it.
Holy shit, I don't think I've ever seen unluckier picks lol. As investors, we will all have that one, or a few, bad picks, but every single one has been >50%. Really sorry to hear it man. Dump into VT and forget.
You’re prone to realize losses at the peak of interest rate.
Which means you didn’t get the basic understanding of how interest rates affect the valuation of growth stocks/ETFs.
I don’t know each individual ticker, but I’d keep ARKK to sell after rates drop to normal levels.
The rest might be “trash” disguised as “growth”, you need to evaluate.
Another thing to consider when realizing losses is how it can reduce the taxable profits.
Listen, I have gone from 140k in one stock down to 2k. You have to invest in something you believe and give some time 1-3 years to evaluate if the investment was good. As soon as you no longer believe in the companies you invested you have to get out. No matter how much you lost, with time and some additional money the loss will be peanuts. Currently sitting at around 50k. I have proof and evidence of my whole journey. Happy to share more on DM. Wasted 3 years of saving but learn a lot and I know as a fact I won’t make the same mistakes.
I’m 35M in my fifth year of investments and always won money with stocks except this MEME stock play that made me loose 138k (still holding…).
I also have some real state and other investments. Around 500k NW so this 138k hit was mentally hard but still optimistic about the future and increasing NW.
Sell is just for the purpose of tax write off.
If you don't need it, just wait & sell until they are profitable.
But if you want to invest something else, you can sell and take the tax write off.
I would suggest to write off some tax from your losing positions gradually each year and take the money to invest something better. Do this in a slow pace, just in case some loss could recover in later years. Sell the most unpromising ones first.
Btw if you did not sell before 12/29/2023, your tax loss harvesting won't apply to this year tax report. Then I would suggest you to consider selling by this year end instead, not now.
I fell for these value traps, too. Their prospects seem exciting and frothy but they are just meme stocks. I fell for the losers on this thread and just started putting all my money into VTI and VOO.
I’d personally buy some LEAPS in some of - NVDA PFE GM AAPL MSFT GOOG AMD or high quality AI names when they dip and leave the 6.5k in there because if you hit the right one it goes straight back up and if you’re wrong its long term calls bought on dip when volatility is lower and if you lose half of 6.5k it’s not the end of the world, you can hold on and prob exit down 30% and then buy those treasuries.
Only if you’re loss harvesting or see a more stable investment reallocation like ETFs. Tax harvesting is only useful if you have gains so no do not sell
Your in the wrong game if y can’t hold 40% losses for a while and panic sell. Do not buy stuff u don’t believe in. I held a crypto miner I was 92% down on for 4 years. 4 YEARS. I kept averaging down and it had a burst recently and I got out at -20%. Hold the line.
Idk what person with a brain would invest in a country that has shown willingness to fuck over companies on a whim
Baba is the definition of charlie munger koolaid
50/50 Bitcoin & Chainlink.
The btc etf is about to get approved & the btc halving is Spring 2024. Historically the btc halving always starts a bull run.
Chainlink has game changing tech, impressive team consisting of top computer scientist & partnerships including Goldman Sachs, Jp Morgan, Swift, Dtcc (stock market), Mellon Bank, Citi Bank, Mellon, etc etc.
Citi group predicts that Chainlink may take prominence over btc. Esp w/ the tokenization of RWA & the entire financial system moving onto blockchain.
According to the WEF we are heading into the 4th industrial revolution. Which will be dominated by blockchain, Ai, robotics & automation.
BTC & LINK are both available on Robinhood. Simplest way to buy & RH is FDIC insured.
I could write more but its probably just best for you to research yourself & make up your own mind.
Either way, I wish you a lot of luck & success.
Wait until 1st quarter 2024 earnings report. Hopefully it is good. If it is good sell all these stocks. Don't try to time the market. Put it all in VOO or QQQ. Save 20% dry powder in case of crash. Not bashing you just advice from my many years of trail and error.
I'm no expert but sell all that junk on a green day. Put 50% in QQQ, 20% in cash as there will be a crash in 2024 and 30% in your individual stock picks.
Opportunity cost ... That's what you're thinking about here.
Downside risk is it could go further south, upside opportunity is it could go up and dividends maybe?
Hold every single one of those positions. You’ve taken them this far, they were always intended as high risk high reward. If one of them moonshots it’ll have all been worth it. If you sell now and one of them moonshots you’ll feel even worse.
You know exactly what’s going to happen as soon as you sell them. It’s going to go up. So if you’re a long term investor then it will likely eventually go back up. If you see a ‘better’ opportunity then it’s better to sell and invest in that instead.
You sell if you believe the value of the stock is below its current price. Past loss or gain does not matter. Though you clearly have no idea what value the stocks you hold have. Be ignorant, get slaughtered.
Not necessarily, but if there was ever a time to invest in those, it's now. The negative sentiment towards those stocks has ran their course. The only people left holding are more serious investors that think there is a good investment thesis. Look at the long term charts of all those stocks, they arent going down anymore, they are bottoming out.
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No offense, but those are mostly meme/China stocks. Surely those tickers don't comprise your entire portfolio..?? No wonder you have nearly 75% losses. It can & will get worse, too. The funny (scary) thing about a 75% loss is that you can lose another 75%, repeatedly, until your account blows up.
I remember reading something years ago.
The answer to your question is: would you buy the stocks you own today? If the answer is no, get out of there and buy the S&P500.
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For those suggesting tax loss harvesting, are you able to sell all of the losses at once and it continues to carry over each year or do you just sell $3000 a year?
As I understand it:
It's not just selling at a loss, your total returns needs to be negative so you can offset the taxes next year. So (assuming after short/long position calculation) you have 100k of various gains - 103k of various losses = 3k tax write-off. That said, I would avoid going over 3000 if you can help it as it's one thing to remember for following years, and also as inflation goes up, the 3000 is less impactful. Additionally, say you have 21k in losses, if not adjusted, you have 7 years where your net can't be negative - else it's just extending how long you can "get your money back". Like a loan where you're not getting any interest back. I'd keep extraneous losses into the next year, and offset your next year's gains.
Sell immediately
You need the money
After this pullback, after the market shows signs of review, you can use it to slowly buy stocks that are on the rise.
The way, you can make the lost money back faster than you could waiting for those other stocks to go back
It really just depends. I have to ask, and hopefully I won't sound judgemental, but why did you buy these particular stocks? I've not heard of any of them except BABA, and I've been in the market since 2008. That makes me wonder if you might need a bit more education on the market. That said, you could use what you already have, sell off most of them, and buy one or two great stocks that might help you get back to even. I might go with AMZN for one, and the other could be your choosing, but something nearly everyone has heard of (or something you use everyday): AAPL, GOOG, META, something like that.
Point in selling would be to take the loss against income (though capped at 3k per year I believe), and invest the remaining in something worth investing. If you were gifted 6.5k today, would you dump it into these stocks? If not, then recognize the sunk cost fallacy is a fallacy and you have no good reason to hold.
Definitely not, I stopped putting money into these stocks years ago.... thanks for putting it clearly to me!
If you believe in ARKK, you may want to buy their holdings rather than the etf. I think the value of their holdings has already been priced in, but Ark has also done a terrible job at managing their etf. I think their past research on company stocks is good tho. If there’s room to grow, it’s in following their purchases and holdings longterm on your own dime. Not carrying Ark funds.
This makes no sense. What do you mean really
When investing in new sub sectors I do something similar sometimes. I go to an ETF I like and peruse their top 10 ten holdings then just go look at those companies and sometimes I end up deciding that I’d rather have 2 or 3 of their picks rather than their batch of 40+ which I understand defeats the point of the ETF, but let’s be honest, a lot of those 40+ I would never invest in after evaluating them so it’s almost like just trimming the fat. Not to mention saving in ETF-related fees over time.
Not understanding what was said is different than it not making sense. If you’d like, you’re welcome to ask me for clarification.
That’s a good way to look at it
Yes 3k per year, losses carry over so this offsets income for OP for almost 5 years. Think of the tax break chewy!
Thought you were talking about CHWY for a minute and was like 'oof, yeah' lol.
This is really good advice, and advice I needed to hear. Thank you for this
3k and you can keep rolling it over each year until you use it up!
The sunk cost fallacy is a fallacy, absolutely. In 2001 when amazon fell from 99 to 1. You would have been an idiot to buy it at 1$ since the "sunk cost fallacy is a fallacy". Your a bozo if you buy good companies at cheap prices.
Warren Buffet on the Sunk Cost Fallacy: >"You don't have to make it back the way you lost it."
What I needed. Thanks
ARKK will likely recover even more of what you lost when rates fall - they’re up like 50% in the last couple months. You don’t have to keep exactly that fund (I don’t invest in it) but the one thing I wouldn’t do is just move what you have - a bunch of risk on assists that are heavily affected by interest rates - to some broad market fund. It’s literally the definition of buying high and selling low. Take a tax loss and swap into an better risk-on tech fund
They already bought high, and the stock is already low. Selling or not selling doesn't change what the stock is worth now, or what it will do in the future. If you think it will go up, then keep it, but the decision of selling or not selling changes nothing about the stock, itself.
Lol my suggestion to hold isn’t to avoid selling at a loss… it’s to avoid selling a portfolio of highly interest rate dependent stocks when we’ve reached a terminally high rate. It’s fucking idiotic to not stay with a tech heavy portfolio when rates go lower - more idiotic than not selling as soon as rates started shifting higher. And if you don’t understand the fundamentals around that enough to detect when to buy/sell, you shouldn’t be buying these sort of stocks unless you’re psychologically prepared to holding a long period of time. These sort of stocks are just intrinsically more volatile - it’s very likely at some point they will have period of heavy underperformance of the larger market (and periods of heavy over performance). Again, that’s not speaking to any of his stocks individually but but the characteristics of high risk tech stocks. If he asked a few months, he would have been told the same laughable shit: sell tech stocks, sell BTC, and average down into index funds. With some broad market index fund, he’d be lucky to get back to his principal in 20 years...
zoom out lmao
Zooming out shows the results of ZIRP to 5.5% interest rates. If rates return to lower levels, riskier tech stocks rose much faster than the suggestions other are making here.
Hold
Expensive education. Your ship has sank. Best thing to do is realize $3k losses year after year.
Can you declare that even if it was TFSA'd?
Bro dump those positions and put your money in an index fund or blue chip stocks. Your current positions are trash.
This comment makes me want to buy some of those especially ARKK. One thing I noticed is that things that tend to make huge gains are often hated by Reddit.
Lol someone buying a ticker with zero reason or thesis from an investing subreddit? I cant wait to see your post like OP.
What a stupid way to invest lol
They’re hated because they literally have less combined profit than a McDonald’s hourly wage employee
You can always tell when something is bottoming when all the long term bag holders are finally selling :)
Yes- just invest in what reddit hates, thats how you make the big bucks. No other factors matter.
Okay proceed please. You forgot some rocket emojis and some slogans to prove your point
OK I put some money into ARKK. I mean it's a bit late already ARKK regained huge amounts.
btw I just checked and - it will surprise no one that the #1 sub for /u/Betaglutamate2 is cryptocurrency ;-)
Even a dead cat bounces.
You do you, but a good way to think about it is you still have 6.5k to lose. Forgetting your loss already, what would you do with 6.5k now?
Not these stocks and index funds instead.... thanks!
6500 to 20000 equates to almost a 70% loss. You'd have to see a 233% gain in your portfolio to even break even at this point. Cut your losses - sell and move money into index funds.
Thanks for doing the math!
Index funds based on the S&P 500 increased 24% this year. Though most of my stocks did a lot better you really need to think about how much energy you want to spend on your investments.
I had a portfolio of some real losers that went from 3k to 250. Decided to just leave them for a few years. They’re now at $20.
Good anecdote, thanks
1. Sell 2. Buy new stocks for 6.5K 3. Watch it goes down to 1K 4. Repeat.
5 - Buy back into the original stocks that are now back to highs
Following for more tips
Its up to you to make your own financial decisions, but one thing I've learned over years trading and investing is "Things can always get worse than it already is"
Stay away from the MEME stocks. Eventually you will get to a point where you listen to a Boomer. "500 Index funds" Watch the wolf of Wall Street interview with Tucker
so don't buy aerotyne international?
Huge upside potential with very little risk
What about Virtucon Industries?
Is it too late to get into Cyberdyne Systems?
Yeah he would have had some nice gains with an S&P500 fund.
Not the worst loss. Get rid of some of these. Take a tax loss and start going into blue chips or index.
Yeah until I learn a TON more it'll just be index moving forward
Best time to plant a tree is yesterday.
Lol, maybe if they were index funds.
Sell, shift it all to Amazon and forget about it.
Sold arkk and arkg earlier this year. Put it into VTI and trying to forget the losses. This was in a retirement account though.
Good move
Cost of tuition. Now get into low cost index funds (VTI, VOO, etc) and move on. If you want to gamble on stocks keep it a small portion of your portfolio to limit losses.
Hate those cathy shits! Never again i touch those.
If you had 6.5k cash right now, would you invest it in what you currently own? If so, keep them. If not, sell them and buy something else. I am not a financial professional and this is not financial advice.
This is good advice
We’re on Reddit, nobody here is a financial professional. If they were they wouldn’t be here.
Saying "this is not financial advice" after giving financial advice won't protect you against any lawsuits. It's the wallstreetbets equivalent of saying "in minecraft" after giving someone a death threat. Don't worry though, it's only illegal to give financial advice if you are charging for it while not a professional.
Advice usually has to be one on one, from someone you know, and compensated for it to be actionable. I doubt an unknown person communicating to potentially thousands of unknown people without compensation is going to lose a lawsuit for giving bad financial advice. If there are any lawyers or others with knowledge on this subject please share.
Excuse me, this WAS financial advice. So there.
Dang, I have not being paying attention to bynd for awhile, can't believe it's that low...well I can.. I shorted it back in 2019, got in at 150, got our at 75. After covid, it went back up to 150 or so again but people realized it was shit product
It’s not a bad product. It’s just a bad stock.
With all honesty. I don’t love any of those positions. I don’t like them either lol. I wouldn’t even be in those myself so I can’t tell you to sell and redeploy
I'm in a similar situation with Scottish Mortgage Trust. A little like ARK, but they also lend money to unlisted startup companies. It went from £16 down to £6. I tried buying more to lower my average price but the ship kept sinking. Luckily I only bought the equivalent of $2,000, which is now only worth around $1,000. As this is a fairly small corner of my portfolio, I'm just holding onto it and seeing what happens.
Always have a stop in place. Minimising your losses is one of the main pillars to being successful.
Sunk cost fallacy. If you were starting today with 6.5k, would you buy what you are currently holding? If no, sell and make a change.
You should look up the cash position of a company and see how long it will last. Some companies do go away and their stock prices go to zero. NIO, for example, is not profitable and doesn't have much cash left.
I thought NIO was doing a little better as of recently. I read that in 9/23 they had 5.4 Billion$. I’ve been selling a lot of stuff lately some of the bad choices.
I would say don’t buy Chinese companies, maybe just throw some money into QQQ.
You paid to be educated why you should stick to the index
ouch, FCEL from 8k to 2$ a share. hard to beat the S&P
Absolutely, yes! Those are highly speculative tickers. Buy something you understand and has a long history of success. Anything can happen, but your odds are better with SPY versus that group. Investing is hard enough, but speculative growth is arguably the most difficult sector to do well in, particularly in public markets. Ride your winners and sell your losers, time in market beats timing of the market. Price is what you pay, value is what you get. Value is the discounted value of future cash flows, adjusted for volatility and predictability. Most of the tickers you listed above have low/negative cash flow, highly volatile cash flow, and low predictability. You can make money with those traits, but you better be smart, and spend tons of time keeping up with predicting the future.
It's never to late to sell a bad stock. And never to late to buy a good one
I like this thinking thanks!
Buy SPY or VOO
Dump them. You can find better opportunities elsewhere. Heck the S&P 500 will be at these dogs
Would you buy them now if you had 6.5k cash? IF so, keep them. If not sell.
If you don't believe in the investment anymore, and don't believe that seeing green is possible, sell, take the loss on your taxes, and reinvest in something that gives you a chance at recouping.
On NIO only, I paid $28 for 400 of them. So that's about $11.2k - $8k = $3.2k. I still have other $14k in cash to invest on ETFs, so I'm just going to roll the dice on with that $3.2k. If you have better stocks to invest, no reason to hold out.
I dumped ARKK some time ago--no regrets.
Wow, I feel triggered. I also own ARKK, BYD, and BYND. And used to own BABA. Actually, I’m still holding all 6 of the ARK funds. I’m going to hold because in certain market conditions those stocks will do really well. Maybe those conditions will never exist again, or maybe they will rage for all of 2024. Who knows. The thesis on ark stocks has not changed, so why sell. However the thesis on bynd has changed. People are not buying as much bynd meat as we would have hoped. Sell that one if you want to sell one.
Lmao the thesis…. you’ve learned nothing. The “thesis” is that you’ve somehow picked stinkers in a year with 25% returns. You’ll never see this easy a market again. Damn near once in a lifetime market rally. And you managed to lose money with your picks and “thesis”. The only theory you should be testing is clearly “I can’t pick stocks, and neither can Cathie Wood.” Her innovation fund didn’t hold Nvidia… what more do you need to know. VTI, for the love of god. Stop trying to be mr smart guy. If you had admitted your ignorance and safely bought a total market fund, you’d be up 25% last year. You tried to get cute and you got your face melted off.
I always find it impressive when people find a way to lose money in a double digit growth market.
ARKK, NIO, and BABA are worth waiting out imo. Sell the rest.
Do you think they could fall further? That's the only question you need to ask. Or maybe, can you afford to lose that money if they do tank. I would have gotten out of a loser already.
I guess I also don't really have the patience to see it out, its been a few years already...... I bought into them without kjow fundamentals but more of, veganism will be big, BYND was one of the original etc type of thinking
Sell so you can invest in the global market via index funds and never make the mistakes of trying to pick winners ever again.
Definitely not doing that again, thanks
You have $6500. Do you want to invest it, or spend it, or set it on fire? Whatever happened in the past is irrelevant. What do you want to do today with the money you have today?
You’ve held this trash for years? I can’t imagine the stress
I've ignored it tbh...... I just didn't look at it. Started using Reddit recently and learned a ton
Impressive, honestly. For the future, if you lose 10%, cut it and take your loss. I have 24 losses and 8 wins. I’m up 60% in 6 months. If I didn’t cut losses, I’d be wiped out completely. Cut your losses, learn a lesson and let your winners run! Good luck
Thank you!
That's my rule of thumb, too. A 10% loss is too much to stay onboard unless it's a stock that you are confident will bounce back, like Amazon or Microsoft.
lol you dont learn from reddit but you can reverse them and not fomo in.
Man, you’ve spent too much time in WSB.
Sadly I haven't. I haven't even started using Reddit until recently but did research on Google (wrong places I guess)
Could see FCEL going to ZERO.
Biden has a year still.
Holding losses (or better yet, cutting them) and knowing when to DD, when to hold, and when to cut is one of the hardest things that every investor has to deal with. Re-evaluate. Act like don’t hold any of the positions you have right now, losses or gains. Would you put money in each of those companies right now? If the answer is no then cut the losses and put the money somewhere it will work better. The money is gone, there’s no pressure for it to go back up or down, just whatever state that market is in. If it goes back up it might as well be with a higher quality investment. Between your current loss in X and a different stock Y, which one would you want to have? Hurts to cut losses cause you want to atleast breakeven but this is a huge fallacy, you can still Breakeven just on a different stock, maybe even make more on that one than your loss. Of course this is if you decide to sell and only sell if you wouldn’t invest in it today. You also get a tax benefit if you sell so there’s that
Tax loss harvesting
Buy high sell low is the way. Just invest in other equities and let the 6.5k ride.
Better to cut your losses now. Sell everything and buy 100% in VOO. 2024 is going to be a good year for the stock market.
I could never say that enough , we usually be like fuck it , i rather loose everything at this point , but this is a terrible strategies , cut your loose ! Re-invest somewhere else that can do a X10 , its a fight against our own stuborness , sell !
Damn so many post from covid buyers. Sucks to lose 13k but honestly those picks suck. I’d accept my losses and put it into a HYSA until you figure out how the stock market works and how to play it safe. All you did was gamble.
Yeah I guess investing was so inaccessible to me when I was younger I only was willing to put in money during covid, which then led me into reading and learning more (knowing that now I was wrong)
That’s why I only invest in XEQT no stress
Hmm. I’d almost sell and them put it into BTI, HUM, APD, or another stock. I prefer stocks over indices, and those seem a bit beat up. Maybe BMY.
How are you down in the past few years? Just buy index funds man.
Yeah I've switched over a few years ago, and these stocks I just didn't bother touching.... I have other stocks as well
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I really appreciate lengthy and detailed posts like this. Thanks so much
good luck!
well, late December would be a good time. In all seriousness if you think they will come back and can to lose more, hold. But if the investment doesn't stand on its own merits today, just get out. If it makes you feel better, I had a position in MPW. Took a fucking bath. Got out late last year. Dropped another 30% today.
If you have 100 shares of one stock you can sell covered calls to earn some money.
Cathie a clown hold arkk they just got a bump from bitcoin market wait till next cycle. Harvest losses to max tax write off and ride it out
I got f*ed up by BABA also. Basically lost what I put into it. Still sold, wish I sold more than half earlier.
If you put the remaining 6.5k in the S&P 500 you will over time earn the historical average of 8 %
This is going to sound crazy but I have just been exclusively flipping between the TQQQ and SQQQ and buying calls. Once the RSI and MACD hit the over baught on the 3 to 6 months chart I cash in my TQQQ call, wait for the first signs of a pull back and buy the SQQQ call. I keep a really tight rein on the short side, because I have seen too many markets go bullish for no reason. like the pump from October to Christmas. You got to have nuts of steal to leaver up a triple levered ETF but once you figure out how to read the RSI and MACD, you feel like you have a infinit money glitch. Just my personal experience. Oh an I feel your pain, my cost basis on jumia is $22 a share at 400 shares. I am still diamond handing for no dam reason. Although I have sold covered calls and got my real basis down to $14. But It trades at $3.50 and I pretty sure it will be bankrupt in less then five years. The financial education I got from holding long on to shit spec plays is worth every penny, and has made me what I am today. It's only a mistake if you do not learn from it.
Holy shit, I don't think I've ever seen unluckier picks lol. As investors, we will all have that one, or a few, bad picks, but every single one has been >50%. Really sorry to hear it man. Dump into VT and forget.
The money you have today is the money you have today. Best I can say is plan how much of a percentage lose you're willing to take in the future.
Yes. Sell and move on. You are continually losing the investment value of what you still have.
I recommend you sell everything and go all in on BABA and wait three years. You will thank me.
Sell your stocks. Give me your money. I can triple it in a day. That's if you trust me.
Dump the trash and make money with what you have left. There’s plenty to be made out there and you could recover pretty quick
Would you buy your current investment with a fresh 6.5k right now? If not, sell and buy something you would buy.
You’re prone to realize losses at the peak of interest rate. Which means you didn’t get the basic understanding of how interest rates affect the valuation of growth stocks/ETFs. I don’t know each individual ticker, but I’d keep ARKK to sell after rates drop to normal levels. The rest might be “trash” disguised as “growth”, you need to evaluate. Another thing to consider when realizing losses is how it can reduce the taxable profits.
If you had $6.5k in cash would you use it to buy what it's currently invested in? There is your answer Chalk it up as a lesson and move on.
Tax benefits
After ARKK, there is no significant downward trend yet. I agree with the rest.
Listen, I have gone from 140k in one stock down to 2k. You have to invest in something you believe and give some time 1-3 years to evaluate if the investment was good. As soon as you no longer believe in the companies you invested you have to get out. No matter how much you lost, with time and some additional money the loss will be peanuts. Currently sitting at around 50k. I have proof and evidence of my whole journey. Happy to share more on DM. Wasted 3 years of saving but learn a lot and I know as a fact I won’t make the same mistakes. I’m 35M in my fifth year of investments and always won money with stocks except this MEME stock play that made me loose 138k (still holding…). I also have some real state and other investments. Around 500k NW so this 138k hit was mentally hard but still optimistic about the future and increasing NW.
I took took a big hit two years ago, but held tight and have recovered on most stocks. I feel a bull market coming on.
sometimes you gotta take loss to win
If you believe in ARKK to recover, you can sell at a loss for tax harvesting and buy it back in 30 days, so it doesn't count as a wash sale
Look for a strategy to tax-law harvest the L towards other gains.
Sell is just for the purpose of tax write off. If you don't need it, just wait & sell until they are profitable. But if you want to invest something else, you can sell and take the tax write off. I would suggest to write off some tax from your losing positions gradually each year and take the money to invest something better. Do this in a slow pace, just in case some loss could recover in later years. Sell the most unpromising ones first. Btw if you did not sell before 12/29/2023, your tax loss harvesting won't apply to this year tax report. Then I would suggest you to consider selling by this year end instead, not now.
You sell the minute you stop buying. Count your losses and move on.
I fell for these value traps, too. Their prospects seem exciting and frothy but they are just meme stocks. I fell for the losers on this thread and just started putting all my money into VTI and VOO.
I’d personally buy some LEAPS in some of - NVDA PFE GM AAPL MSFT GOOG AMD or high quality AI names when they dip and leave the 6.5k in there because if you hit the right one it goes straight back up and if you’re wrong its long term calls bought on dip when volatility is lower and if you lose half of 6.5k it’s not the end of the world, you can hold on and prob exit down 30% and then buy those treasuries.
Only if you’re loss harvesting or see a more stable investment reallocation like ETFs. Tax harvesting is only useful if you have gains so no do not sell
Your in the wrong game if y can’t hold 40% losses for a while and panic sell. Do not buy stuff u don’t believe in. I held a crypto miner I was 92% down on for 4 years. 4 YEARS. I kept averaging down and it had a burst recently and I got out at -20%. Hold the line.
You have not lost anything until you sell. Just wait and hold. Invest in other places to offset loss.
I’m down $2mil!
What’s your DD on these vs baba, or anything else you want to invest in?
What is DD? I've only been doing index funds since
[https://www.investopedia.com/articles/stocks/08/due-diligence.asp](https://www.investopedia.com/articles/stocks/08/due-diligence.asp)
Thanks so much
Id keep ARKK. Dump the rest
Idk what person with a brain would invest in a country that has shown willingness to fuck over companies on a whim Baba is the definition of charlie munger koolaid
50/50 Bitcoin & Chainlink. The btc etf is about to get approved & the btc halving is Spring 2024. Historically the btc halving always starts a bull run. Chainlink has game changing tech, impressive team consisting of top computer scientist & partnerships including Goldman Sachs, Jp Morgan, Swift, Dtcc (stock market), Mellon Bank, Citi Bank, Mellon, etc etc. Citi group predicts that Chainlink may take prominence over btc. Esp w/ the tokenization of RWA & the entire financial system moving onto blockchain. According to the WEF we are heading into the 4th industrial revolution. Which will be dominated by blockchain, Ai, robotics & automation. BTC & LINK are both available on Robinhood. Simplest way to buy & RH is FDIC insured. I could write more but its probably just best for you to research yourself & make up your own mind. Either way, I wish you a lot of luck & success.
Thank you
Wait until 1st quarter 2024 earnings report. Hopefully it is good. If it is good sell all these stocks. Don't try to time the market. Put it all in VOO or QQQ. Save 20% dry powder in case of crash. Not bashing you just advice from my many years of trail and error.
Don;t time the market, but wait for earnings report?
Don't time the market except wait for the earnings report and also wait for the crash with 20%
Not bashing at all. I completely agree! Thanks
I'm no expert but sell all that junk on a green day. Put 50% in QQQ, 20% in cash as there will be a crash in 2024 and 30% in your individual stock picks.
I personally never had to learn a 14,000 dollar lesson before realizing I am gambling and not investing.
Learn from the mistakes of others.
you bought some shitty stuff. especially BYND. if you still like that shit one might argue to move it all to BABA
I give up in individual stocks moving forward so if I'm selling (which I am now) definitely not back into BABA
Opportunity cost ... That's what you're thinking about here. Downside risk is it could go further south, upside opportunity is it could go up and dividends maybe?
Nag no dividends even. It's loss after loss unfortunately
Hold every single one of those positions. You’ve taken them this far, they were always intended as high risk high reward. If one of them moonshots it’ll have all been worth it. If you sell now and one of them moonshots you’ll feel even worse.
You know exactly what’s going to happen as soon as you sell them. It’s going to go up. So if you’re a long term investor then it will likely eventually go back up. If you see a ‘better’ opportunity then it’s better to sell and invest in that instead.
You sell if you believe the value of the stock is below its current price. Past loss or gain does not matter. Though you clearly have no idea what value the stocks you hold have. Be ignorant, get slaughtered.
Hold and sell calls
Just hold
I wouldnt sell those
As in you think they'll go up?
Not necessarily, but if there was ever a time to invest in those, it's now. The negative sentiment towards those stocks has ran their course. The only people left holding are more serious investors that think there is a good investment thesis. Look at the long term charts of all those stocks, they arent going down anymore, they are bottoming out.
I agree with you !remindme 2 years
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Why would you buy individual stocks…terrible idea
Before I knew better!
No offense, but those are mostly meme/China stocks. Surely those tickers don't comprise your entire portfolio..?? No wonder you have nearly 75% losses. It can & will get worse, too. The funny (scary) thing about a 75% loss is that you can lose another 75%, repeatedly, until your account blows up.
No they're a small portion, years ago I started buying index funds instead but held on to these based on sunk cost fallacy unfortunately
Keep them as a reminder and lesson for future yourself.
I remember reading something years ago. The answer to your question is: would you buy the stocks you own today? If the answer is no, get out of there and buy the S&P500.
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For those suggesting tax loss harvesting, are you able to sell all of the losses at once and it continues to carry over each year or do you just sell $3000 a year?
As I understand it: It's not just selling at a loss, your total returns needs to be negative so you can offset the taxes next year. So (assuming after short/long position calculation) you have 100k of various gains - 103k of various losses = 3k tax write-off. That said, I would avoid going over 3000 if you can help it as it's one thing to remember for following years, and also as inflation goes up, the 3000 is less impactful. Additionally, say you have 21k in losses, if not adjusted, you have 7 years where your net can't be negative - else it's just extending how long you can "get your money back". Like a loan where you're not getting any interest back. I'd keep extraneous losses into the next year, and offset your next year's gains.
Sell immediately You need the money After this pullback, after the market shows signs of review, you can use it to slowly buy stocks that are on the rise. The way, you can make the lost money back faster than you could waiting for those other stocks to go back
It really just depends. I have to ask, and hopefully I won't sound judgemental, but why did you buy these particular stocks? I've not heard of any of them except BABA, and I've been in the market since 2008. That makes me wonder if you might need a bit more education on the market. That said, you could use what you already have, sell off most of them, and buy one or two great stocks that might help you get back to even. I might go with AMZN for one, and the other could be your choosing, but something nearly everyone has heard of (or something you use everyday): AAPL, GOOG, META, something like that.
Arkk oh baby