For real
I'm still bull on SQ, but I have lost a shit tone over the last 2 weeks.
since 2/24, down 5kOriginally Posted by PorkChopSandwiches
Feb 16th it closed @ 276 today its @ 225. I have 443 shares
Im down 22k in that period
Luckily it was all gains, I haven't gone below my purchase prices at all. My first buy was at 45.75 and my highest buy was 198
I still think it will pass 300 in the long run
brah pitt (03-04-2021)
It's rough out there right now.Feb 16th it closed @ 276 today its @ 225. I have 443 shares
Im down 22k in that period
Luckily it was all gains, I haven't gone below my purchase prices at all. My first buy was at 45.75 and my highest buy was 198
I still think it will pass 300 in the long run
I'm looking for some deals to pick up
Ill likely get more SQ
brah pitt (03-04-2021)
@ 2:30 GME took off. Stock is crazy.Ill likely get more SQ
That ones to crazy for me LOL
I've been ignoring my IRA brokerage account. Going to start putting money back in it monthly and start paying attention to it. I just wish I could get rid of the worthless stocks in my portfolio. All of them were just speculative 'penny stocks' that I bought back in the day. A good share of them are probably defunct by now, as evidenced that the stock symbols are numbers now.
brah pitt (03-06-2021), PorkChopSandwiches (03-08-2021)
DemonGeminiX (03-06-2021), Godfather (03-06-2021), lost in melb. (03-07-2021), PorkChopSandwiches (03-08-2021)
You should still be able to sell even if only for $1 or $0.01 through your brokerage. I would if there's no prospect of them bouncing back and you're sick of those stocks sitting there laughing at you (been there)
If you sell them at a loss you can use that loss on your tax return as capital losses, which will benefit you more than holding worthless stocks.
Forgive me if I sound like I'm pandering but it works like this: You buy Stock X for $500 and sell for $1,000. That is a $500 capital gain which you pay tax on. But say that year (or in Canada, over a 3-year time) you also bought Stock Y at $300 and sold it for $100, for a $200 capital loss. That $200 loss from Stock Y would help offset the tax you owe on your $500 capital gain from Stock X. Now the math gets a little complex because of inclusion rates (no idea how those work in the US) so I don't think it's a straight "$500-$200=$300 taxable" calculation, it's a 50% inclusion rate right now in Canada, but it'll still help reduce your taxes.
You also can't actually use a capital loss to deduct from other income (i.e. If you make $50,000 but lose $1000 on the stock market, you don't get to deduct the stock loss from your income tax), but using capital losses against your capital gains from better investments is pretty straightforward.
Last edited by Godfather; 03-06-2021 at 07:26 AM.
PorkChopSandwiches (03-08-2021)
Disney parks are fully opening 4/1
Stock is $189
Buy or not to buy $DIS
PorkChopSandwiches (03-08-2021)
I would assume Disney's a solid buy with or without the parks, since they've acquired Marvel and Star Wars. Fans (like me) have flocked to their streaming platform.
However, if they reopen their parks and get blamed for a Covid outbreak, they could tumble.
Maybe better to buy an ETF that has DIS in it?
Last edited by DemonGeminiX; 03-06-2021 at 07:35 PM.
Warning: The posts of this forum member may contain trigger language which may be considered offensive to some.
Music was better when ugly people were allowed to make it.
brah pitt (03-08-2021)
excellent advice!
I picked up DIS at $137
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