LAURUSLABS : Closed the position at a small loss
I initiated my position in the stock on November 17th, 2022. Subsequently, I added to the position on December 2nd and December 20th of the same year. With these additions, the total position accounted for about 2.5% of my capital.
However, the market crash persisted, leading me to close the position for tax loss harvesting on March 31st, 2023, at around 296.30. I then re-entered on April 25th at 295.80, a price lower than my exit point.
Now, I'm selling it off at 398.91, which is 5.88% lower than the average holding value. This trade results in a loss of 5.88%, despite holding the position for approximately 9 months.
Nonetheless, this entire experience provided valuable insights, and I successfully executed tax loss harvesting, making the loss worthwhile.
Currently, I don't plan to re-enter this particular stock in the near future, unless I develop a clear conviction regarding its growth prospects at a more favorable valuation.
During this time, I intend to utilize the capital to engage in better opportunities that I have stronger confidence in, as they arise.
However, the market crash persisted, leading me to close the position for tax loss harvesting on March 31st, 2023, at around 296.30. I then re-entered on April 25th at 295.80, a price lower than my exit point.
Now, I'm selling it off at 398.91, which is 5.88% lower than the average holding value. This trade results in a loss of 5.88%, despite holding the position for approximately 9 months.
Nonetheless, this entire experience provided valuable insights, and I successfully executed tax loss harvesting, making the loss worthwhile.
Currently, I don't plan to re-enter this particular stock in the near future, unless I develop a clear conviction regarding its growth prospects at a more favorable valuation.
During this time, I intend to utilize the capital to engage in better opportunities that I have stronger confidence in, as they arise.